Shell Programming and Scripting

I have a command that when ran it will have an output such as

string LongerString
string2 longerString2
More MoreStrings

seperated by tabs. The command lists domains and their accounts set up in my server admin software (interworx).

The end result will be that it will run rsync for each of the domain accounts.

For example.

rsync -a /home/account/domain/html {backupserver}:~/backup/domain/html

if i try something like
for domain in `/home/interworx/bin/listaccounts.pex`
do
echo $domain
done;

it just prints out each word on its own line.

i've tried different forms of
while read line;
do
echo "${line}"
done < script_command and it always returns something like

./test.sh: line 4: xxxxxo xxxxxxxxxx.com
lxxxxn xxxxxxx.net
unxxxxxxe xxxxx.net: No such file or directory




Any ideas ?