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1997 (2) TMI 80 - MADRAS HIGH COURTExtract: .......ble to the facts of this case. On the other hand, the deposits made by the directors with the company are deposits under section 40A(8) of the Act and the interest received thereon is liable to be disallowed under the abovesaid provision. In the result, we answer the question referred to us in the negative and in favour of the Department. No costs.
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