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2012 (6) TMI 908 - AT - Income TaxExtract: .......e it was not a loan or advance in the nature of gratuitous character, hence out of ambits of the provisions of section 2(22)(e) of the Act. We therefore direct not to add the impugned amount in the taxable income of the assessee. Resultantly, the addition is hereby deleted. Ground is allowed. 8. In the result, the appeal of the Assessee is allowed.
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