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2011 (4) TMI 1374 - HC - Income TaxExtract: .......in the orders passed by the CIT(Appeal) as well as the ITAT. More particularly when we take note of the fact that the CIT(Appeal) has stated that this amount of share application money cannot be construed as loan or advance and hence would fall beyond the definition of Section of 2(22)(e) of the Income Tax Act. This appeal is accordingly dismissed.
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