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2007 (10) TMI 220 - HC - Income TaxTribunal allowed assessee appeal holding that assessment is not erroneous - CIT was not justified in revising order of AO on the ground that books of account were not duly audited by Indian C.A – AO has accepted the revised loss after examining vouchers & evidence & after discussing IT act & DTAA of India-Australia properly - non-application of mind by AO cannot be lightly inferred & order of assessment cannot be held erroneous & prejudicial to interests of revenue – tribunal order justified
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