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1997 (9) TMI 11 - MADRAS HIGH COURTExtract: .......ribunal was in error in rejecting the assessee s claim for deduction of interest paid in the previous year on the loans. In the result, the order of the Tribunal is modified to the extent indicated above. Interest paid on replanting and development loans being now held to be deductible under section 5(e). The revision petitions are allowed in part.
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