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2012 (3) TMI 57 - AT - Income TaxOrder under 263 - "Audit Objections" and "Possibility of different View" - Funds raised by issuing Shares & Debentures - Additions made u/s 68(cash credits) - CIT: "Unaccounted Income in course of business activity" - Held That:- It is not an unreasonable inference to draw that the addition made u/s 68 is a receipt from business of the assessee. Therefore, this Tribunal is of the opinion that there is no justification on the part of the Commissioner of Income-tax(A) to revise the order in exercise of his jurisdiction u/s 263 of I.T. Act
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