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2012 (2) TMI 353 - DELHI HIGH COURTAllowability of interest paid on loan from the gross interest received on Fixed Deposit Receipts - money obtained on loan and converted into FDRs – Held that:- Division bench of this court held in case of same assessee in earlier A.Y. (2010 - TMI - 204444 - Delhi High Court ) that interest paid was expenditure laid out and expended wholly and exclusively for the purpose of making or earning the interest income. Following the aforesaid decision and the reasoning therein – Decided against the Revenue.
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