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1983 (9) TMI 84 - HC - Income TaxExtract: .......tax payable by it, in computing its total income. (3) Question No. 3 is answered in the negative and in favour of the Department and it is held that the interest payable under s. 220(2) of the IT. Act is not an allowable deduction in computing the profits of the assessee. (4) Question No. 4 is answered in the negative and in favour of the assessee.
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