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2003 (4) TMI 41 - BOMBAY HIGH COURTAssessee is a finance company. It is a public limited company carrying on business of leasing, financing hire purchase, dealing in shares and other financial activities - "Whether, on the facts and in the circumstances of the case and in law, addition of Rs. 35.10 lakhs, being the difference between the sale price of the shares in question at the rate of Rs. 18.90 per share on 18th March, 1991, and the estimated realisable price of Rs. 54, after listing on the Calcutta Stock Exchange on June 27, 1991, as suppressed income, was justified?" - the above question is answered in the affirmative, i.e., in favour of the Department and against the assessee.
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