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Income Tax - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

The assessee invested its funds in the equity shares of a ...

Case Laws     Income Tax

June 27, 2016

The assessee invested its funds in the equity shares of a company incorporated outside India. The third proviso to Section 10(23C) clearly says that the assessee cannot invest in the equity shares of any company and the investment has to be made only as per the mode prescribed under Section 11(5) - Approval u/s 10(23C)(vi) not granted - AT

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