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Income Tax - Highlights / Catch Notes

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Penalty - genuineness of the gifts - There was concealment on ...

Income Tax

July 28, 2017

Penalty - genuineness of the gifts - There was concealment on the part of the assessee so as to levy penalty under Section 271(1)(c) of the Act. Thus, the Tribunal was right in denying benefit under Proviso to Section 56(2)(vi) - HC

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