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Sunday, April 23, 2017

Sec. 68 AO cannot Examine Source of Source in Non-Share Capital Cases

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Ld. CIT(A) has rightly observed that the assessee is not required to explain source of source of the fund gets buttressed by the amendment made in section 68 with effect from 01.04.2013, which empowers the AO to examine source of source in case of share application money from 01.04.2013 and no other cases prior to that.

April 23, 2017 at 02:00PM

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from CA Sandeep Kanoi

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