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2001 (12) TMI 191 - AT - Income TaxExtract: .......ed deposit has been held to be allowable. Therefore interest on the fixed deposit of the beneficiaries is liable to be assessed in their personal assessments. This ground is therefore dismissed. 14. Ground No. 4 is general in nature and needs no adjudication. 15. In the result, departmental appeals are allowed and cross-objection is partly allowed.
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