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1993 (2) TMI 135 - AT - Income TaxExtract: .......s has been utilised for issue of bonus shares out of the brought forward balance of Rs. 93,09,997 in the general reserves account. This argument of the assessee, therefore, fails. 12. Taking into consideration the entire facts and circumstances of the case, we uphold the conclusions of the learned CIT(A). 13. In the result, the appeal is dismissed.
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