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1991 (10) TMI 40 - HC - Income Tax
Extract:
.......hed by the assessee. In that view of the matter, the Tribunal was justified in holding that the assessee was not entitled to deduction of interest in respect of investments in, and advances made to, the subsidiary company. The reference is, accordingly, answered in favour of the Revenue and against the assessee. No costs. S. K. MOHANTY J. -I agree.