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Case Law Details

Case Name : Nawal Kishore Soni Vs ACIT (ITAT Jaipur)
Appeal Number : ITA No. 1256, 1257, & 1258/JP/2019
Date of Judgement/Order : 15/09/2020
Related Assessment Year : 2015-16 to 2017-18
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Nawal Kishore Soni Vs ACIT (ITAT Jaipur)

It is evident from entries found in cash book of Ram Kumar Soni and from statement recorded from assessee in course of survey that assessee purchased gold in period of demonetization which was obviously for sale to persons

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Author Bio

Mr.Kapil Goel B.Com(H) FCA LLB, Advocate Delhi High Court [email protected], 9910272804 Mr Goel is a bachelor of commerce from Delhi University (2003) and is a Law Graduate from Merrut University (2006) and Fellow member of ICAI (Nov 2004). At present, he is practicing as an Advocate View Full Profile

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One Comment

  1. RAJENDRA G. ZAWAR says:

    UNDER SAME CIRCUMSTANCES IN FY.2022-23, EVEN IF ONLY GROSS PROFIT IS TAXED ON DECLARED SALES. BUT WHETHER DEEMED PURCHASES CO WILL BE TRATED AS UNEXPLAINED EXPENDITURE?

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