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2005 (7) TMI 100 - ALLAHABAD HIGH COURTDifference between the stock value shown in account and value disclosed to the bank - Assessee submission that inflated figure in the balance-sheet & P/L A/c was in order to get the bank credit facility, is acceptable - Tribunal rightly uphold the order of CIT that the difference between the stock value shown in the books of account of the assessee and value disclosed to the bank was not assessable to tax as deemed income - Tribunal was correct in granting renewal of registration to the firm
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