Disallowance of the refundable security deposit in computing the ...

Income Tax

October 13, 2020

Disallowance of the refundable security deposit in computing the assessee’s business income for the year - when the income arising from the transfer is being subject to tax for AY 2010-11, how could a related cost possibly arise for being claimed/allowed in a subsequent year? The same militates against the concept of income (or income computation), which is (to be) at net of all expenditure incurred in relation thereto. - AT

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Disallowance of the refundable security deposit in computing the ...

Income Tax

October 13, 2020

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