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Only profits embedded in purchases made from grey market are taxable in hands of assessee
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Corporate Tax
Only profits embedded in purchases made from grey market are taxable in hands of assessee
Posted on
on
December 3, 2013
Tenet Tax Daily December 3 2013
By
tenettax-team
Corporate Tax
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Sum paid to NR to identify potential customers and to conduct market survey abroad held taxable as FTS
No reassessment on mere allegation of bogus entries as AO failed to identify culprits for such entries
