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Income Tax - Highlights / Catch Notes

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Reopening of assessment - The source of expenditure in question ...

Income Tax

June 21, 2016

Reopening of assessment - The source of expenditure in question was very much available since in the reasons recorded itself, the Assessing Officer points out that the purchases were made by making cheque payments. Section 69C of the Act therefore has no applicability - reassessment quashed - HC

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