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2007 (1) TMI 599 - ITAT MUMBAIExtract: .......ettled proposition of law that bogus, sham or non-genuine transactions cannot form the basis for claiming deduction. They have to be ignored and this is what the Departmental authorities have done. In our view, the decision rendered by the ld. CIT(A) deserves to be confirmed which accordingly is confirmed. Appeal filed by the assessee is dismissed.
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