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2014 (1) TMI 1359 - AT - Income TaxVariation in valuation of land - Held that:- The AO was satisfied with the explanation with regard to source of investment - The CIT(A) held that that the subject transaction does not yield to any income chargeable to Income tax - The transaction affects only the work-in-progress - He directed the AO to reduce the work-in-progress to be carried forward by an amount of Rs. 38.40 lakhs - Decided against Revenue.
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