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Bench: HONOURABLE THE CHIEF JUSTICE,HONOURABLE MR. JUSTICE SOUMITRA SAIKIA
7. The appellant, however, relied upon the decision of this Court in Tuticorin Alkali Chemicals and Fertilizers Ltd. v. CIT [(1997) 6 SCC 117]. That case dealt with the question whether investment of borrowed funds prior to commencement of business, resulting in earning of interest by the assessee would amount to the assessee earning any income. This Court held that