Income cannot be excluded from taxation by an internal arrangement


Last updated: 01 August 2013

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
The brief facts of the case are that return of the assessee was selected for scrutiny. The assessee had declared income from house property, share of profit, remuneration from one firm and income from other sources. In this case AIR information was received that assessee had purchased two immovable properties for Rs.22,40,000/- and Rs.72,90,000/- respectively.

Citation :
ACIT Circle-1 Meerut (APPELLANT) Vs. Mukesh Rastogi S/o Parmanand, 32, Janta Nagar, Garh Road Meerut PAN: AANPR7714F (RESPONDENT)

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Published in Income Tax
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