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Interest Disallowance on Citi Bank Loans Unsupported by Evidence; No Legal Basis for New Projects Assumption.

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....The disallowance of interest on the borrowings from the Citi Bank, which is solely based on the assumption that the borrowings from the Citi Bank have been used in the new projects – something which is not burnout from the material on record, is devoid of legally sustainable basis.....

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