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1992 (3) TMI 30 - RAJASTHAN HIGH COURTExtract: ....... therefore, answered in favour of the Revenue and against the assessee and it is held that the Tribunal was not legally justified in holding that the interest paid to the directors on their deposits in running account was not disallowable to the extent prescribed in section 40A(8) of the Act. Reference is answered accordingly. No order as to costs.
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