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1981 (1) TMI 46 - HC - Income TaxExtract: .......is in the negative, i. e., in favour of the assessee. We hold that s. 2(22)(e) of the I.T. Act, 1961, is not applicable to the loan advanced by the abovenoted firms to the HUF. In view of our answer to question No. 1, it is not necessary to consider and answer question No. 2, as the matter stands finally disposed of by our answer to question No. 1.
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