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CIT's Section 263 revision on advance gross receipts and interest receipts challenged; AO's decision stands as legally valid.

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....Revision u/s 263 by CIT - advance gross receipt and the interest receipt - The decision of the AO to allow / accept the advance fees as current liability cannot be stated as unsustainable in law as he has taken a possible view based on application of mind. CIT(E) has not brought any material on record to show that the view taken is contrary to law - AT....

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