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1981 (11) TMI 37 - CALCUTTA HIGH COURTExtract: .......relevant findings of the ITO and the AAC. Further, the Tribunal erred and/or was misdirected, in law, in arriving at the conclusions that the genuineness of the loan transaction was proved. In the aforesaid view of the matter, we answer both the questions in the affirmative and in favour of the Revenue. There will, however, be no order as to costs.
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