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Unexplained cash credit - addition u/s 68 - The revenue cannot blow hot and cold in the same breath since in the scrutiny reassessment the purchases have been accepted, there is no any reason/logic in not accepting the subsequent sales of the shares and treating the receipt of consideration as unexplained cash credit. - Tri

Income Tax
January 11, 2017

Unexplained cash credit - addition u/s 68 - The revenue cannot blow hot and cold in the same breath since in the scrutiny reassessment the purchases have been accepted, there is no any reason/logic in not accepting the subsequent sales of the shares and treating the receipt of consideration as unexplained cash credit. - Tri

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