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2006 (10) TMI 213 - AT - Income TaxExtract: ....... claim the interest on the borrowing as a deductible item of expenditure. This judgment of the Madras High Court also supports the view that we have taken in para 12.2 above. 18. The ground No. 3 is accordingly rejected for the reasons discussed in paras 12, 12.1 and 12.2 above. 19. In the result, the appeal filed by the assessee is partly allowed.
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