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Court Allows Netting Off Interest for Assessee; Overdraft and FD Source Remains Unchanged.

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Full Text of the Document

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....Netting off of interest interest income - The source of interest earning remained intact. In doing so, the assessee had to incur interest expenditure on overdraft. The source of income and application of income is same, i.e. FD. - netting off of interest has to be allowed to the assessee....

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