Buying farm land to legitimise undisclosed funds? New Tax tribunal ruling a big blow; here’s how these deals work
For years, influential individuals have employed this scheme of purchasing agricultural property at understated values through cash payments. (AI image) Tax authorities are now scrutinising the often used practice of using agricultural land transactions to conceal unaccounted money. A recent verdict from the Income Tax Appellate Tribunal (ITAT) could potentially disrupt this established practice. According…
