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2003 (7) TMI 637 - AT - Income TaxExtract: .......there was no reason to disbelieve the assessee rsquo s explanation that the said cash was as a result of loans taken from the four parties and consequently considering the same as assessee rsquo s undisclosed income. Addition of Rs. 53,434 is deleted and the order of the CIT(A) is set aside. 7. In the result, the assessee rsquo s appeal is allowed.
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