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1981 (3) TMI 114 - ITAT COCHINExtract: ........ So, they are shown as loans. Such a necessity does not arise in books which are not meant to be seen by Govt. Officials. So, these entries reflect the correct position i.e. they are really loans. Therefore, the addition of Rs. 27,300 made by the ITO is clearly misconceived. The addition is deleted. 10. In the result, the appeal is partly allowed.
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