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1983 (12) TMI 77 - AT - Income TaxExtract: ....... paid to the HUF accounts then according to the said decision of the Gujarat High Court in the case of Sajjanraj Divanchand, s. 40 (b) would not be applicable. Therefore no part of the interest paid to the HUF accounts amounting to Rs. 1,95,723 can be disallowed. 5. Therefore the assessee s appeal is allowed and the department s appeal is rejected.
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