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1988 (8) TMI 138 - AT - Income TaxExtract: .......y these gifts should not have been accepted by the ITO. We, therefore, accept this plea of the assessee as and hold that the credits in question were satisfactorily explained to be out of gifts received by the assessee from the aforesaid two persons. The addition of Rs. 36,000 is, therefore, deleted. 11. In the result, the appeal is partly allowed.
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