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2015 (7) TMI 193 - AT - Income TaxTreatment to surplus funds - Held that:- CIT(A) has rightly appreciated the facts of the case and has rightly arrived at the correct conclusion as the funds kept in bank deposits cannot be classified as surplus funds as project was under completion. The argument of Ld. D.R. that facts were not verified by Ld. CIT(A) does not hold any force as Ld. CIT(A) by quoting figures in his order has arrived at the conclusion. - Decided against revenue.
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