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1983 (4) TMI 66 - ITAT ALLAHABAD-BExtract: .......the fixed deposit receipts of Rs. 1,09,361 cannot be said to be wholly not chargeable to tax. The assessee s claim of deduction of debts amounting to Rs. 82,000 secured on these fixed deposit receipts, therefore in our view, was not hit by the provisions of s. 2(m)(ii) and was rightly allowed by the AAC. 6. The appeal fails and is hereby dismissed.
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