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Income Tax - Highlights / Catch Notes

Home Highlights June 2023 Year 2023 This

Addition u/s 69 - unexplained investment - share transactions - ...

Income Tax

June 5, 2023

Addition u/s 69 - unexplained investment - share transactions - Year of assessment - the transaction for legal transfer of shares actually took place in the subsequent assessment year but not in the year under consideration. - Thus addition cannot be sustained merely on assumption and presumption where the evidence clearly supports the contention of the assessee. - AT

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