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Wealth Tax not payable on Cash Balance generated out of Cash Sales

Wealth Tax Not Payable On Cash Balance Generated Out Of Cash Sales

Cash in hand referred to in Section 2(ea)(vi) of the Act represents only the Personal Cash of the assessee emanating from his personal balance sheet. It nowhere contemplated the inclusion of cash which is held as business asset.

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Wealth Tax not payable on Cash Balance generated out of Cash Sales

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