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2007 (5) TMI 229 - HC - Income TaxDiscrepancy between the bills raised and the payments received – AO made additions as undisclosed receipts by not accepting the assessee’s explanation that it was maintaining a running account in respect of its clients - held that in view of the mercantile system followed by the Assessee, there would always be some outstanding bills – since the Assessee was maintaining its accounts on a mercantile system and kept a running account with its clients, additions are not justified
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