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1990 (7) TMI 149 - AT - Income TaxExtract: ....... treat the difference of Rs. 9,03,000 (Rs. 22,75,500 minus Rs. 13,72,500) as deemed gift contradicts his action of treating the same amount as company s income for the year under consideration. Both the grounds are, therefore, allowed. 26. In the result, both the appeals are allowed and the additions/disallowances made in each of the years deleted.
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