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1994 (3) TMI 123 - AT - Income TaxExtract: .......taining a/c on mercantile basis and he must have been aware of his liability accruing on the term loan obtained from the G.S.F.C. and should have claimed in the year of accrual. Accordingly there is no force in this ground and reasonings of the authorities below is upheld. 23. The result of the above is that the appeal of assessee is party allowed.
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