Section 175 of ITA, 1961 : Section 175: Assessment Of Persons Likely To Transfer Property To Avoid Tax
ITA, 1961
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Explanation using Example
Imagine a businessman, Mr. Sharma, who is planning to sell a large portion of his company's assets right before the end of the financial year. The Assessing Officer of the Income Tax Department gets wind of this and suspects that Mr. Sharma's intent is to dispose of these assets to evade taxes that would be...
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