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Interest Deduction Allowed: Assessee's Single Business Deemed Legal Despite Non-Business Use of Funds Claim.

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....Disallowance of Interest on the ground that there is huge cash balance and the borrowed money is utilized for the non-business purpose – there is only one business of the assessee, part of which is not held to be illegal either by IT department or by any other government agency. - claim allowed - AT....

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Interest Deduction Allowed: Assessee's Single Business Deemed Legal Despite Non-Business Use of Funds Claim.