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Income Tax

In the absence of source and nature of expenditure, the receipt...

Unidentified Expenditure Receipts Considered Trading Receipts, Taxed at 25% Like Other Assessee Income Estimates.

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Income TaxMarch 31, 2014Case LawsAT

In the absence of source and nature of expenditure, the receipt is to be considered as trading receipt and income on this is to be estimated, as the assessee estimated on other receipts, at 25% - AT

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