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2011 (1) TMI 706 - HC - Income TaxUnexplained credits u/s. 68 - Accommodation entries - interest on bogus loans - payment of cash in lieu of cheques - Held that:- no evidence has been found during the course of search to indicate that the assessee had paid cash in lieu of cheques or that any accommodative entries were in fact given to the assessee the Tribunal was justified in holding that the revenue had not discharged the burden of showing that the assessee had undisclosed income.
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