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2009 (2) TMI 10 - HC - Income TaxAdditions made by AO on account of purchase of acid slurry by the assessee from one Utkarsh Udyog Samiti by treating the transaction as a bogus purchase - Both the CIT(A) and ITAT accepted the explanation of the assessee that the transaction was a bonafide business transaction - despite being given an opportunity, revenue has not been able to bring anything to the contrary – there is no perversity in the conclusions arrived at by the authorities below – revenue’s appeal dismissed
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