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1984 (12) TMI 91 - AT - Income TaxExtract: .......essee, we are of the opinion that they constitute payment over and above the payment of interest. They have been paid in the course of borrowings effected for expansion of existing business and as such they are allowable as revenue expenditure under section 37(1). We direct the ITO to allow the same. 14. In the result, the appeal is partly allowed.
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