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2008 (9) TMI 620 - ITAT MUMBAIExtract: .......s genuine transaction. Thus, we find that the assessee has satisfied this condition of genuineness for the purpose of section 68 of the Income-tax Act. We, therefore, are of the considered view that addition under section 68 is not in accordance with law and, thus, the same is hereby deleted. 7. In the result, the appeal of the assessee is allowed.
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