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1954 (9) TMI 27 - HC - Income TaxExtract: .......at the interest paid by the assessee on those loans was not a justifiable deduction. We must therefore answer the first question in the affirmative to the extent indicated in the judgment, and questions Nos. 2 and 3 in the negative. No order as to costs of this reference. No order as to costs of the notice of motion. Reference answered accordingly.
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