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Income Tax - Highlights / Catch Notes

Home Highlights January 2020 Year 2020 This

Unexplained cash credit u/s.68 on account of relinquishment of ...

Income Tax

January 17, 2020

Unexplained cash credit u/s.68 on account of relinquishment of right - the amount of the compensation received by the assessee for relinquishment of its right to sue from societies to avoid the litigation cannot be treated as a colorable device. Hence, the amount received as compensation in view of said right is not chargeable to tax

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