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2000 (1) TMI 1002 - AT - Income TaxExtract: .......red in the names of minors belonged to the relatives of the minors. Therefore, in our opinion, to treat the credit of ₹ 2,70,000 as the income of the assessee was quite unjustified, and hence, we delete the same. Consequently, disallowance of interest on the said loans is also deleted. 22. In the result, the appeal of the assessee is allowed.
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