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1981 (8) TMI 153 - ITAT MADRAS-DExtract: .......e of interest incurred after 1st April, 1976 and since in the present case the expenditure was incurred prior to that date, the disallowance was not warranted. 20. We, therefore, reverse the orders of the authorities below and direct the ITO to recompute the income after deleting the addition of Rs. 37,427. 21. In the result, the appeal is allowed.
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