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Income Tax - Highlights / Catch Notes

Home Highlights January 2019 Year 2019 This

Additions u/s 68 being share application money received - such ...

Income Tax

January 10, 2019

Additions u/s 68 being share application money received - such amount invested by the farmers cannot be said to be non-genuine transactions. - the IDBI had given loan to farmers against sale proceeds receivable by them from BTCL on sale of the crops. Therefore, the creditworthiness of the farmers is proved beyond doubt.

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