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Income Tax - Highlights / Catch Notes

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Exemption u/s 11 - diversion of funds - advance by account payee ...

Income Tax

October 31, 2018

Exemption u/s 11 - diversion of funds - advance by account payee cheques for the benefit of interested party - The contention of the assessee that the amounts were returned by account payee cheques and within a short period is of no consequence.

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