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Income Tax - Highlights / Catch Notes

Home Highlights May 2020 Year 2020 This

Levy of interest - assessee has neither offered seized cash ...


Assessee's failure to declare seized cash u/s 132(4) leads to confirmed interest demand.

May 12, 2020

Case Laws     Income Tax     AT

Levy of interest - assessee has neither offered seized cash during his statement u/s 132(4) nor he intimated to the Department by letter that his seized cash should be adjusted towards his advance tax/tax liability - Demand confirmed.

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