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1986 (5) TMI 66 - ITAT COCHINExtract: .......neral Finance Ltd., towards the outstanding loan. Who receives the sale price is immaterial. What is material is moneys payable for the sale of the asset. So, the AAC was not correct in holding that Rs. 81,820 represented the actual sale proceeds. We, therefore, reverse his order and restore that of the ITO. 7. In the result, the appeal is allowed.
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