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2003 (5) TMI 200 - AT - Income TaxExtract: ....... that partners have been taxed on the interest allowed to them by the firm also supports the case of the assessee. In the above circumstances, I hold that the ld. CIT(A) was fully justified in deleting the disallowance made by the Assessing Officer under section 40(b)(iv) of the Act. I confirm his action. 15. In the result, the appeal is dismissed.
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