1984 (7) TMI 1

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.... question has been referred to this court by the Income-tax Appellate Tribunal at the instance of the Revenue : "Whether, on the facts and in the circumstances of the case and having regard to the provisions of section 57(iii) of the Income-tax Act, 1961, the Appellate Tribunal is right in holding that the assessee is entitled to the deduction of Rs.4,94,082 being the interest on moneys borrowe....