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Cash paymnets

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 October 2013 IF A CIVIL CONTRACTOR HAS PURCHASED LAND FOR STOCK IN TRADE IN CASH THEN WHAT WILL BE THE CONSEQUENCES AS PER INCOME TAX ACT.PLS GUIDE
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ACS Gaurav Jain

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ACS Gaurav Jain (Expert)
11 October 2013 disallowed because it is purchase(trading or p & l account) not be part of fixed assets

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