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1980 (12) TMI 73 - ITAT BOMBAYExtract: .......undisputed finding is that the borrowals were for the purpose of assessee s business and have actually been utilised therefore. The genuineness of the borrowing not being and its utilisation for the purpose of business not being disputed, we are unable to uphold the Department s objection. 4. In the result, the Department s appeals stand dismissed.
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