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1988 (7) TMI 26 - HC - Income TaxExtract: .......ration can flow from a person other than the borrower (in the present case, the Reserve Bank of India) and thus the payment does not lose the character of interest. In our opinion, the view taken by the Tribunal and the other Revenue authorities is correct and we answer the second question referred to us in the affirmative and against the assessee.
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