Case Laws
Acts
Notifications
Circulars
Classification
Forms
Manuals
Articles
News
D. Forum
Highlights
Notes
🚨 Important Update for Our Users
We are transitioning to our new and improved portal - www.taxtmi.com - for a better experience.
⚠️ This portal will be fully migrated on 31-July-2025 at 23:59:59
After this date, all services will be available exclusively on our new platform.
If you encounter any issues or problems while using the new portal,
please let us know
via our feedback form
, with specific details, so we can address them promptly.
Home
Necessary action for recovery of tax demand arising out of the capital gains. - Income Tax - 248/CBDTExtract INSTRUCTION NO. 248/CBDT Dated: December 18, 1970 Section(s) Referred: 45 Statute: Income - Tax Act, 1961 Attention is invited to para 2 of boards circular No.8-D(LIII-8) of 1968 (F.NO.73/18/67-ITAII) dated 22nd April,1968 on the above subject. 2. It has been decided by the board that the same of goods brought in by the repatriates as their capital would when sold be liable to capital gains tax. Necessary action for recovery of tax demand arising out of the capital gains may be taken. 3. These instructions may be brought to the notice of all the officers working in your charge.
|