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1983 (11) TMI 31 - HC - Income TaxExtract: .......interest at 6 per cent. alone should be calculated for the purpose of disallowance of the interest paid on the borrowed amounts as against 9 1/2 per cent. actually paid by the firm on its borrowing. In this view of the matter, we have to answer the question referred to us in the negative and against the assessee. There will be no order as to costs.
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