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1977 (12) TMI 47 - AT - Income TaxExtract: ....... case. We, therefore, direct the addition to be deleted. The interest paid on the loans must also be allowed as was done in the original assessment order. We, accordingly, cancel the re-assessment order and restore the original assessment. The ITO is also authorised to amend the assessment of the partners as a consequence. 8. The appeal is allowed.
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