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1991 (3) TMI 62 - ALLAHABAD HIGH COURTExtract: ........ v. CIT 1985 152 ITR 308, held that borrowed capital cannot be taken into consideration and cannot be included in the assessee s capital for working out the deduction provided under section 80J of the Income-tax Act. Following that decision, the question referred is answered in the negative, i.e., in favour of the Revenue and against the assessee.
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