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2010 (5) TMI 891 - AT - Income TaxExtract: .......cision in 251 ITR 373 has enunciated the principle of bonafide, wherein it has been held that there is presumption that explanation given is bonafide unless proved to be otherwise.” We uphold this finding of the first appellate authority. 8. In the result, the appeal of the Revenue is dismissed. Order pronounced on this 21st day of May, 2010.
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