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1968 (2) TMI 30 - HC - Income TaxAssessee was banking company and has been assessed as a non-resident - interest were received by the assessee in the UK from Corporation, which was a company incorporated in England and was carrying on business in Calcutta - Tribunal was right in holding that the provisions of s. 42(1) of the IT Act, 1922, had no application to the interest received on overdraft granted to Corporation
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