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Disallowance of interest paid to the bank as well as to the other parties - Revenue authorities have failed to bring on record any cogent evidence and material to show that the borrowed funds have been utilized for the purposes of investment and were not used for the business purposes - claim allowed - Tri

Income Tax - Disallowance of interest paid to the bank as well as to the other parties - Revenue authorities have failed to bring on record any cogent evidence and material to show that the borrowed f .....

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