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Income Tax - Highlights / Catch Notes

Home Highlights September 2015 Year 2015 This

Addition received as advance for sale of property - there is no ...


Property Sale Advance Under Scrutiny: Lack of Evidence on Transaction Failure Raises Credibility Concerns.

September 30, 2015

Case Laws     Income Tax     HC

Addition received as advance for sale of property - there is no evidence why the deal did not mature. How the amounts were returned whether any receipts were taken or not is not clear. All these circumstances make the whole story not plausible - HC

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