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Income Tax - Highlights / Catch Notes

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Unexplained cash credit u/s 68 – It was incredible that a ...


Unexplained Cash Credits u/s 68: Gifts Deemed Implausible and Not Genuine for House Purchase.

November 4, 2013

Case Laws     Income Tax     AT

Unexplained cash credit u/s 68 – It was incredible that a complete stranger would want to gift lakhs of rupees to a person only because that person wanted the amount for purchasing a house - the gifts could not be said to be genuine - AT

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