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2010 (8) TMI 442 - HC - Income TaxRevision - Under Section 263 - Search - in view of decision of Hon'ble Supreme Court in the case of Malabar Industrial Co. Ltd. Vs CIT [2000 -TMI - 5786 - SUPREME Court], held that when the Assessing Officer completely omitted to deal with the receipt of a sum of Rs.6,87,77,922/- which was revealed from the CDs seized in the course of search held on 12.08.2004, certainly the order of the Assessing Authority was erroneous and consequently there was serious prejudice caused to the interest of the revenue.
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