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Income Tax - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

Addition u/s 68 - Unexplained cash advances received from ...

Case Laws     Income Tax

July 8, 2019

Addition u/s 68 - Unexplained cash advances received from various customers - trade advances given by the creditors/customers were found to be adjusted against the sale of products made by the assessee subsequently to the concerned creditors/customers then the advances so received by the assessee could not be treated as unexplained cash credit - no addition

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