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2008 (4) TMI 75 - HC - Income TaxAppeal by assessee against assessment – search during pendency of appeal - article found in possession of petitioner during search - respondents were wholly justified in raising the presumption u/s 132(4A)(i) & in treating the KVPs and NSCs, in question, recovered from the possession & control of the petitioner, as the undisclosed assets of the petitioner – dept. is entitled to retain the same to complete assessment of tax, which the petitioner may be held liable to pay – petition is dismissed
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