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1960 (11) TMI 136 - HC - Income TaxExtract: ....... 2,80,194 was also an item of admissible deduction under section 10(2)(iii) of the Act. Our answer to the question is that the entire interest paid by the bank in the year of account inclusive of the sum of ₹ 2,80,194 was a permissible deduction under section 10(2)(iii) of the Act. The assessee will be entitled to the costs of this reference.
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