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1984 (7) TMI 111 - ITAT BOMBAY-CExtract: .......the dividends were earned. By applying the provisions of s. 80AA r/w s. 57 of the IT Act, such interest had necessarily to be deducted before granting relief under s. 80M of the IT Act. In my opinion therefore the assessee is not eligible for any relief in the grant of deduction under s. 80M of the IT Act. 7. In the result, the appeal is dismissed.
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