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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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  • Gifts spotted during search won’t constitute undisclosed income if they were already shown by assessee in return
Posted onon 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

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