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2010 (12) TMI 1293 - AT - Income TaxExtract: .......at there is no question of presuming that the funds of the assessee firm has been diverted for personal purposes, so long as there exists an overall credit balance. Accordingly we uphold the view of the learned CIT (A) on this issue. 8. In the result, all the appeals of the revenue are dismissed. Pronounced in the open Court on 21st December, 2010.
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