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Revision as of 02:17, 15 August 2026

Ask ten people a person's can discharge tax debts in bankruptcy and great get ten different replies to. The correct answer may be you can, but only if certain tests are met.

If any books of accounts, documents, assets found or seized belong to any other person, the concerned AO shall proceed against other person as provided u/s 153A and 153B. The assessment u/s 153C should additionally be completed with twenty one months from the end from the financial year when the search was conducted like assessment u/s 153A.

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