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Gifts spotted during search won’t constitute undisclosed income if they were already shown by assessee in return
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Corporate Tax
Gifts spotted during search won’t constitute undisclosed income if they were already shown by assessee in return
Posted on
on
February 28, 2014
Tenet Tax Daily February 27 2014
By
tenettax-team
Corporate Tax
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Gifts from NRI unrelated to assessee and without an occasion held as as unexplained
HC – Expenditure incurred on setting-up V-Sat facility is revenue expenditure