Cash for property; seller wins case in ITAT
Mr. Purushottam residing in Kabisurya Nagar, encountered a penalty for accepting cash payments linked to his property sales. He sold two properties totaling Rs 47.54 lakh and declared these earnings accurately. Despite paying the required capital gains tax, an investigation by the Assessing Officer into the cash dealings led to a penalty.
Mr. Purushottam residing in Kabisurya Nagar, encountered a penalty for accepting cash payments linked to his property sales. He sold two properties totaling Rs 47.54 lakh and declared these earnings accurately. Despite paying the required capital gains tax, an investigation by the Assessing Officer into the cash dealings led to a penalty.
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