The Supreme Court has put an end to a rampant tax dodge, going on for decades, where land parcels, properties, and redevelopment rights worth crores changed hands through partnership firms. Spurred by the apex court’s stand, the Income tax (I-T) department may now turn their glare on past property deals as well.
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The trick used till now was holding real estate assets in a partnership structure, revaluing the properties to current market price, bringing in new partners ….
Read more : THE ECONOMIC TIMES
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