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<h1>Interest on loan not to be added to firm's income per ITAT ruling</h1> The appeal was allowed by ITAT Patna for the asst. yr. 1981-82, ruling that the interest on a loan should not be added to the firm's income based on the ... - The appeal was filed by the assessee for the asst. yr. 1981-82 regarding the addition of Rs. 9830 interest on a loan. The ITAT Patna held that the interest should not be added to the income of the firm based on the new provision in s. 40(b) introduced by the Taxation Law (Amendment) Act, 1984. The appeal was allowed.