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1988 (3) TMI 22 - HC - Income TaxExtract: .......rn Indian State Motors 1987 167 ITR 395 (Raj)). Consequently, this reference also has to be answered in favour of the assessee and against the Revenue by holding that the Tribunal was justified in treating the interest paid by the assessee on the arrears of sales tax as an admissible deduction under section 37 of the Income-tax Act, 1961. No costs.
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