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Gifts from NRI unrelated to assessee and without an occasion held as as unexplained

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Posted onon February 25, 2014

Tenet Tax Daily February 25 2014

By tenettax-team
Corporate Tax, Individual Taxation

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Sum paid for transmission of electricity along with maintenance of meters won’t be FTS – sec. 194C attracted
Gifts spotted during search won’t constitute undisclosed income if they were already shown by assessee in return

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