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1976 (8) TMI 85 - ITAT MADURAIExtract: .......6. Looked at from this point view it would be clear that there is no need for the WTO to invoke the provisions of s. 2(m) and exclude the liability. The loan does not come to be excluded under any other provision. On the facts of the case, exclusion of liabilities under s. 2(m) is not attracted. We will therefore, allow the assessee rsquo s appeal.
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