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1986 (1) TMI 16 - HC - Income Tax

The High Court of Calcutta held that the Tribunal did not find any part of the unsecured debentures as borrowed capital for acquiring house property. The matter was remanded for further determination. If property was purchased with borrowed capital, interest deduction under section 24(1)(vi) was justified. The reference was returned unanswered with no costs.

 

 

 

 

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