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1996 (4) TMI 158 - AT - Income TaxExtract: .......ks of its account, the lower authorities were not justified in bringing to tax the said liability of Rs. 1,66,62,866 under section 41(1) of the Income-tax Act. We accordingly delete this addition of Rs. 1,66,62,866 made by the Assessing Officer and sustained by the CIT(Appeals) in the impugned order. 23. In the result, assessee s appeal is allowed.
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