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2007 (3) TMI 743 - AT - Income TaxExtract: .......ucceed in proving, in the manner required by the Income-tax authorities that the amount received by him represented sale proceeds of shares but it can not be asserted positively, having regard to the evidence on record, that the assessee’s claim stood disproved. We, therefore, cancel the penalty and allow the appeal with no order as to costs.
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