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1 reply, 2 voices Last updated by Yuvika Deshmukh 6 months, 3 weeks ago
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  • #5348

    Bhakti manohar

    Mr.X gave his black money ₹1 Crore to Mr Y who purchased jewellery from it and transferred the same by way of gift back to Mr.X who received the same in his stock-in-trade. How this ₹1 Crore is taxable?


    Yuvika Deshmukh

    When Y buys jewelery of 1 crore the Assessing Officer will ask him about the source of this 1 crore. Then, sec 69 will apply to him.

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