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Lupin Ltd, Mumbai vs Assessee on 17 February, 2016

interest is received from the Revenue. This is as nobody can be said to have borrowed funds at a rate (of interest) to earn interest ... deductibility. The deduction for interest paid would thus be limited to the quantum of interest received on the like (principal) amount for the same period
Income Tax Appellate Tribunal - Mumbai Cites 19 - Cited by 0 - Full Document
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