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2009 (2) TMI 500 - AT - Income TaxExtract: .......enuineness of the transactions were rightly rejected by the Assessing Officer. Consequently, the arguments put forward by the assessee rsquo s Counsel are rejected, the order of the CIT(A) is reversed and order of the Assessing Officer is restored. Accordingly, grounds of the revenue are allowed. 16. In the result, appeal of the revenue is allowed.
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