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2003 (10) TMI 256 - AT - Income TaxExtract: .......m stock exchanges is not sustainable and the same is liable to be quashed. Therefore, in our considered opinion, condition precedent for assuming jurisdiction under s. 263 did not exist in the case before us. Accordingly, we quash the impugned order of CIT passed under s. 263 of the Act. 14. In the result, the appeal of the assessee stands allowed.
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