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Transfer of ownership rights via agreement to sell held as ‘transfer’, even if possession wasn’t given to purchaser

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  • Transfer of ownership rights via agreement to sell held as ‘transfer’, even if possession wasn’t given to purchaser
Posted onon July 30, 2014

Tenet Tax Daily July 30 2014

By tenettax-team
Corporate Tax

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No penalty or prosecution if return was voluntarily filed in good faith prior to detection of concealment
Settlement Commission’s order of disallowing a sum upheld by HC as otherwise it could reduce undisclosed income offered by assessee

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