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1973 (3) TMI 2 - SC - Income TaxWhether the assessee was entitled to claim deduction of compound interest under section 9(1)(iv) of the Indian Income-tax Act, 1922. The High Court answered that question in the negative and in favour of the department - order of HC was correct - compound interest is payable not on the-capital charge but on that part of the interest on which he has agreed to pay interest. That is not the capital taken note of by section 9(1)(v)
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