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1983 (10) TMI 293 - AT - Income TaxExtract: .......nce of interest was not called for except in regard to the overdrawing of the partners. Since the overdrawing by two partners is less than overall credit balances of other partners, applying the test in Kishanchand Chellaram’s case (supra) we do not see any reason to disallow any interest on the said borrowings also. 5. The appeal is allowed.
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