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2008 (5) TMI 297 - AT - Income Tax
Extract:
.......any, furnished and decide the issue afresh in accordance with law. In case the assessee fails to discharge the burden to establish the genuineness of credit of Rs. 1 crore the AO shall be justified in making the addition of Rs. 1 crore under s. 68 of the IT Act, 1961. 27. In the result, for statistical purposes the appeal of the Revenue is allowed.