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2004 (9) TMI 77 - HC - Income TaxBlock assessment under section 158BC(c) – search - additions of Rs. 1,54,07,808 and Rs. 59,67,500 as unexplained investments - Tribunal is right in holding that no case for rectification had been made out. It is not in dispute that the addition of Rs. 59,67,500 was on account of capital employed in the liquor business and no separate addition had been made on account of peak credit in 21 bank accounts. It is also not denied that the interest income of Rs. 2,52,370 and Rs. 2 lakhs was liable to tax. In this view of the matter, no fault can be found with the order of the Tribunal in assessing the interest income separately in addition to the amount of Rs. 59,67,500. - We, therefore, find no merit in this appeal and dismiss the same in limine.
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