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The Economic Times
The Economic Times
Suchitra Mandal

Name appearing in builder's records showing cash payment: Will you need to pay income tax for such property purchase? Here’s what ITAT said

ITAT Income Tax Revenue the Income Tax Department Tribunal Income Tax Department

Buying property is a significant financial undertaking.

But in one such case, a buyer found themselves facing income tax notice alleging they paid "on-money" in cash, based entirely on documents recovered during a search on the builder or developer.

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