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1983 (11) TMI 4 - HC - Income TaxExtract: ....... 40(b) would have been applied only in relation to net interest debited to the partners accounts. We, therefore, fail to see how the position of law would change if two accounts were maintained as has been done in the present case. While agreeing with the view taken by the Tribunal, we answer the question in the affirmative and against the Revenue.
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