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2012 (7) TMI 1120 - HIGH COURT OF MADRASExtract: .......and hence, the unexplained entries were rightly treated as unexplained income of the assessee. In the circumstances, the tax case stands partly allowed. It is open to the Department to make necessary assessment on Pannalal and others in whose names the shares stand, after verifying the records, and subject to the provisions of the IT Act. No costs.
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