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1976 (5) TMI 35 - AT - Income TaxExtract: .......is no question of diversion of the borrowings from Bank to withdrawals of the partners. Considering the over-all position we agree with the AAC that the interest disallowance by the ITO was not proper and that the AAC was justified in deleting such disallowance to the extent of Rs. 34,091. 12. In the result, the revenue rsquo s appeal is dismissed.
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