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1931 (7) TMI 23 - HC - Indian LawsExtract: .......ered to 'be penal. Even however if allowances are made for those circumstances interest at 75 per cent must I think be deemed to be in the nature of a penalty, and that being so it was open to the Court to give relief by reducing the rate of interest from 75 per cent to 25 per cent. I agree therefore that the appeal fails and must be dismissed.
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