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Interest paid on loan taken to acquire a company of the same line was allowable deduction: HC

September 18, 2019[2019] 111 269 (Bombay)/[2019] 267 Taxman 625 (Bombay)

INCOME TAX: Interest incurred on loans taken for acquiring controlling interest in company of same line, would be allowable expenditure under section 36(1)(iii)
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