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Income Tax - Highlights / Catch Notes

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Addition u/s 68/69 - undisclosed income - absence of source of ...

Income Tax

December 6, 2022

Addition u/s 68/69 - undisclosed income - absence of source of purchase of the property - Merely, because the assessee’s PAN number was mentioned as he was the Director of one of the company, the purchase cannot be said to be made by him when the purchase has been shown in the P&L account by the said company itself as well as part of the closing stock of the said company - AT

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