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1971 (7) TMI 23 - HC - Income TaxAssessee speculator in cotton and shares also derives income from salary, properties and dividends. At the end of S.Y. 2014, corresponding to the assessment year 1959-60, his liabilities included an overdraft from the Bank and loans from sundry creditors - whether interest paid to Bank on over draft is allowable if there is no evidence that the over draft was created for purchase of shares
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