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2004 (3) TMI 343 - AT - Income TaxExtract: .......e case of the assessee. 36. For the aforesaid reasons we hold that the guarantee transaction does not form part of the normal business activity of the assessee nor is it interlinked with its business. The disallowance of claim of deduction has, therefore, been rightly sustained by the ld. CIT(A). The appeal of the assessee is, therefore, dismissed.
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