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2010 (12) TMI 1319 - AT - Income TaxExtract: .......iness of the assessee i.e the sale and purchase of land. Accordingly, the forfeiture of earnest money in the case in hand is a business expenditure. Therefore, we set aside the orders of the lower authorities and the claim of the assessee is allowed. 8. In the result, the appeal of the assessee is allowed. Pronounced in the open court on 20.12.2010
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