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1989 (9) TMI 37 - HC - Income TaxExtract: ....... interest of the company, in such cases, grant of interest-free loan to the directors may be regarded as a benefit provided by the company to its directors. For the reasons aforesaid, we answer the question in this reference in the affirmative and in favour of the assessee. There will be no order as to costs., BHAGABATI PRASAD BANERJEE J. -I agree.
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