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1931 (8) TMI 3 - HC - Income TaxExtract: .......interest payable on the sum of ₹ 32 74,134 borrowed in 1926 for the purposes of investment in sterling securities and so invested ought not to be deducted from the income of the assessee Company accruing and arising in British India. The assessee Company to pay the costs of the Commissioner on the Original Side Scale. Rangnekar, J. - I agree.
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