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1980 (9) TMI 26 - MADHYA PRADESH HIGH COURTExtract: .......al was justified in holding that interest paid by the assessee on borrowed capital was not separately admissible when profit was computed on a net rate basis ? The application is, therefore, allowed. The Tribunal is directed to state the case and refer the aforesaid question of law to this court for its opinion. There shall be no order as to costs.
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