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Income Tax - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

Undisclosed investment - Addition on the basis of documents ...

Income Tax

June 27, 2016

Undisclosed investment - Addition on the basis of documents (MoU) seized during the course of search / survey - sale deeds for lands covered by MoUs had not been executed - it was absolutely illegal for the Assessing Officer to presume the factum of payment for those lands and that too at the rate mentioned in the MoUs. - HC

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