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2003 (5) TMI 190 - AT - Income TaxExtract: .......2,99,19,725. The Department will be liable to pay interest to them in view of heavy loss. The orders of the CIT(A) and the AO creating demand of Rs. 50,90,757 under s. 201(1) deserve to be quashed in view of the aforesaid judgment of the Hon ble Gujarat High Court. 17. In view of the aforesaid facts and discussion, the assessee s appeal is allowed.
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