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    Income Tax

    Income from other sources - Interest expense allowance against...

    Interest expenses on bank loans for FDRs used as security and guarantees to NSC deductible against interest income.

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    Income TaxApril 16, 2020Case LawsAT

    Income from other sources - Interest expense allowance against interest income - the interest expense accrued in favour of various banks on the money borrowed for the purpose of FDRs for security and also for bank guarantees to NSC. - Adjustments allowed - AT

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