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Interest couldn't be disallowed on mere presumption that assessee would earn tax-free dividend in future

December 12, 2018[2019] 101 taxmann.com 88 (Calcutta)/[2019] 261 Taxman 226 (Calcutta)
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IT: Where Tribunal rejected assessee's claim for deduction of interest on loan taken for acquiring control over two companies on ground that it would result in earning exempt dividend income, impugned order passed by Tribunal based on imaginary income and expenditure of subsequent year, was not sustainable

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