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1978 (3) TMI 133 - ITAT MADRAS-BExtract: .......that the business itself was closed subsequently, as stated above, we hold that no adequate case is made out to justify the addition of Rs. 7,500. We direct that the income returned in respect of the hotel business be accepted. We also set aside the disallowance of the interest in respect of the above credit. 4. In the result the appeal is allowed.
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