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Section 68: Deposits from regular taxpayers can't be deemed unexplained if accepted in personal tax assessments.

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X X X X Extracts X X X X

....Addition u/s 68 - When the depositors are regular tax payers and the advances made by such depositors as also share application monies paid by such shareholders are duly accepted in their personal assessments, there cannot be any occasion to hold that these amounts are unexplained in the hands of the company. - AT....

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Section 68: Deposits from regular taxpayers can't be deemed unexplained if accepted in personal tax assessments.