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<h1>Deductibility of term loan interest limited to payments under loan terms; prior deductions bar later claims.</h1> Addition of a new deductibility clause permits deduction only for interest payable on a term loan from a scheduled bank when paid in accordance with the loan agreement; an inserted explanation bars a subsequent deduction where that interest was already deducted in computing business income of an earlier year, and the term 'scheduled bank' is defined by cross reference to the statute's existing definition.
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