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2008 (2) TMI 481 - AT - Income TaxExtract: .......f the assessee as explained source of purchases and the assessee was not entitled to claim that the value of stock should be allowed as deduction from his income. Accordingly, we reverse the order of the Commissioner of Income-tax (Appeals) on this issue and restore that of the Assessing Officer. In the result, the appeal of the Revenue is allowed.
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