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2010 (10) TMI 795 - HC - Income TaxAddition to the returned income on account of amount received as loan which was treated to be receipt within the meaning of s. 56(2)(v) of the Act - Held that:- amount contemplated under s. 56(2)(v) of the Act cannot include loan which is shown to have been repaid, the amount received was a short-term loan which was duly repaid. The said amount cannot be treated as income of the assessee under s. 56(2)(v) of the Act. appeal is consequently dismissed.
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