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2008 (12) TMI 27 - AAR - Income TaxSwapping premium - applicant, PSU is registered as Non-Banking Financial Company by RBI to provide long-term finance to State Electricity Boards held that swapping premium is the profit derived from the business of providing long-term finance, hence merits allowance of the deduction u/s 36(1)(viii) - swapping premium can be termed as compensation for the breach of contract - disclosure of swapping premium in Balance Sheet as other income instead of business income is immaterial
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