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Income Tax - Highlights / Catch Notes

Home Highlights April 2013 Year 2013 This

Cash credit - addition u/s 68 - It is a settled law that the ...


Taxpayer Must Show Source of Cash Credits u/s 68, But Not the Origin of Funds.

April 3, 2013

Case Laws     Income Tax     AT

Cash credit - addition u/s 68 - It is a settled law that the assessee can only be asked to prove source of credits in its books of accounts and not the source of the source of deposit. - AT

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