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2005 (1) TMI 16 - AAR - Income TaxApplicant, a non-resident individual set up a jewellery unit in SEZ in Noida, UP - for his business, he has to import precious metal to India for which he is required to submit import performance guarantee/financial security/letter of credit – held that interest on FDRs cannot be treated as income derived from export business of SEZ unit – held that it will not be correct to set off the said interest on securities/FDRs, etc., with expenses incurred on such securities/FDRs
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