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2017 (6) TMI 725 - ITAT CHENNAIAddition U/s.68 - sham transaction - Held that:- AO cannot say that the transaction was sham or bogus. The CIT(Appeals) specifically found that advance was returned back to M/s. Manish Traders. In view of the above, the addition made by AO is not sustainable. Accordingly addition made by the AO is deleted. - Decided in favour of assessee.
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