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Since the interest paid to HSBC on the loan availed was in the nature of an expenditure wholly and exclusively laid out for the purpose of earning the interest income it ought to be permitted to be netted against such income from other sources in terms of Section 57 (iii) - HC

Income Tax - Since the interest paid to HSBC on the loan availed was in the nature of an expenditure wholly and exclusively laid out for the purpose of earning the interest income, it ought to be perm .....

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