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Income Tax - Highlights / Catch Notes

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Unexplained cash credit under section 68 - Once the assessee is ...

Income Tax

June 9, 2020

Unexplained cash credit under section 68 - Once the assessee is able to prove that the money received by it was returned in the subsequent assessment year in the account of the party, then there remains no doubt that the loan and advances received by the assessee were not unexplained cash credit.

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