Income tax provision regarding immovable property

manoj kumar saraswat (Querist) 21 April 2018 This query is : Resolved
a property wrongly shown in balance sheet of a assessee (capital also increased accordingly)since 4-5 years which is not really exists.his/her books of accounts are audited first time for A.Y. 2017-18. what are provisions of income tax act in this regard.

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Dr J C Vashista (Expert) 22 April 2018
Contact a local prudent tax consultant

R.Ramachandran (Expert) 22 April 2018
It is not clear how the immovable property can be shown in the balance sheet, if it does not exist in the books of accounts.
You have to come out with more facts.

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