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1982 (6) TMI 114 - AT - Income TaxExtract: .......do not feel convinced that the assessee did not carry on business prior to the previous year under consideration. That being the position, opening capital of Rs. 7,481 cannot be said to reflect fresh investment during the year under consideration. In the result, I direct exclusion of Rs. 7,981 from assessee rsquo s assessment. 5. Appeal is allowed.
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