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Income Tax - Highlights / Catch Notes

Home Highlights May 2013 Year 2013 This

Wrong accounting entry - inadvertent mistake, merely an ...

Case Laws     Income Tax

May 22, 2013

Wrong accounting entry - inadvertent mistake, merely an accounting entry which is subsequently corrected and explained cannot fasten the assessee with tax liability by assuming it to be an income whereas in realty the amount was by way of advance/ deposit. - AT

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