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1992 (3) TMI 137 - AT - Income TaxExtract: .......entered in the account books of the company. Therefore, we hold that the finding of the lower authorities that Rs. 32,000 should be treated as undisclosed income of the assessee under s. 68 of IT Act in our opinion cannot be held to be sound either in law or on facts. We, therefore, reverse their finding and allow the appeal. The assessee succeeds.
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