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Income Tax - Highlights / Catch Notes

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Addition u/s 69A - cash deposits during demonetization period - ...

Income Tax

July 24, 2023

Addition u/s 69A - cash deposits during demonetization period - business of hiring of cars - A reasonable amount of cash deposits during demonetization period is out of business receipts, cannot be ruled out - AO directed to to treat 50% of cash deposits during demonetization period is out of business receipts of the assessee and balance 50% cash deposits is unexplained. - AT

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