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Man sells 350 gram gold for Rs 11 lakh, income tax dept sends notice for unexplained money; he wins case in ITAT Ahmedabad

Man sells 350 gram gold for Rs 11 lakh, income tax dept sends notice for unexplained money; he wins case in ITAT Ahmedabad

In a notable case highlighting taxpayer rights, an Ahmedabad-based gold trader, successfully contested a decision made by the Income Tax Department. Initially, his sale of gold was presumed to be just an 'accommodation entry,' but the Income Tax Appellate Tri…

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