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2006 (7) TMI 250 - AT - Income TaxExtract: .......f. In our view, the provisions of law are very clear and any repayment of earlier loan in our view cannot be adjusted against advancement of fresh loan, which has been deemed to be dividend under section 2(22)(e) of the Income- tax Act. We, therefore, confirm the order of the learned CIT(A). 23. In the result, all the three appeals stand dismissed.
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