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1988 (9) TMI 95 - AT - Income TaxExtract: .......ture on purchases there will be no income in this case. The same is the fate of Ground No. 8 relating to charge of interest under s. 139(8) and 217 of the Act. 15. In the result, the assessee s appeal is partly allowed and the addition of Rs. 9,57,751 made by the ITO is hereby deleted. The levy of interest under s. 139(8) and 217 is also cancelled.
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