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Income Tax - Highlights / Catch Notes

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Unexplained income and undisclosed interest - The tribunal held ...

Income Tax

March 5, 2024

Unexplained income and undisclosed interest - The tribunal held that, additions for unexplained investments cannot stand if the items in question are accounted for in wealth tax returns or declared to the Settlement Commission, and belong to other family members not directly implicated in the incriminating evidence.

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