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2003 (6) TMI 195 - AT - Income TaxExtract: .......e AO to verify the genuineness and the existence of the aforesaid liabilities and if it is found that the creditors held the assessee liable to pay the aforesaid amounts on 31st March, 1996, the AO should refrain and desist from adding the amount under s. 41(1) of the Act. 8. In the result, the appeal is treated as allowed for statistical purposes.
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