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1976 (1) TMI 40 - ITAT BOMBAY-EExtract: .......come of the assessee is the entire dividend of Rs. 2,457 and not the dividend amount as reduced by the interest expenses. Following the ratio of 90 ITR 348 (Bom), therefore, I hold that the authorities below were in error in rejecting the assessee s claim for deduction in terms of s. 80-L(i) of the IT Act, 1961. 5.The appeal is accordingly allowed.
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