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1990 (10) TMI 7 - HC - Income TaxExtract: .......d to get the benefit under section 36(1)(iii) as no capital was borrowed for the purpose of carrying on any business by him in his individual capacity. For the reasons aforesaid, we answer this question in the affirmative and in favour of the Revenue and against the assessee. There will be no order as to costs. BHAGABATI PRASAD BANERJEE J.-I agree.
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