Friday, 4 April 2014

Funds available in near future after the date of advance were deemed to be utilized for such purpose

IT: Where assessee was able to show possibility and anticipation of availability of own funds, may be exactly not on date of investment or advancement of loan but, in a very near future date or within a reasonable short period of time from date of such investment, presumption would be that advancement of loan/investment was made by assessee from his own funds


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