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Income Tax - Highlights / Catch Notes

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Addition u/s 68 - source of cash found deposited in the bank ...

Income Tax

January 29, 2020

Addition u/s 68 - source of cash found deposited in the bank account of the - unexplained cash credit - Genuineness of retention of money /cash after sale of agricultural land for 8 months in the hands of father - the basis given by the CIT(A) for rejecting the explanation of the assessee vis-a-vis the source of cash deposited, does not stand the test of reasoning

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