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1992 (11) TMI 47 - BOMBAY HIGH COURTExtract: .......nd, therefore, it cannot be treated as a loan contemplated by sub-clause (c) of clause 15(iv) and, accordingly, the interest payable on such amount cannot be exempt by virtue of section 10(15)(iv)(c) of the Act. In the light of the foregoing discussion, we answer both the questions in the negative and in favour of the Revenue. No order as to costs.
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