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1969 (9) TMI 23 - HC - Income TaxInterest paid on borrowed capital - Whether the interest payment of Rs. 2,38,614 represents an element of the actual cost of the machinery, plant, etc., to the assessee and as such depreciation and development rebate are admissible with reference to this amount also - Interest paid on borrowed capital forms part of the actual cost of the machinery to the assessee within the meaning of s. 10(2)(vi) - Reference answered in the negative, in favour of the department
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