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Exemption u/s 11 - The purchase cost of assets would have been already allowed as application of funds in the year in which the assets were purchased. Therefore, the loss on sale of these assets cannot be treated as application of funds once again. It would amount to double deduction - Tri

Income Tax - Exemption u/s 11 - The purchase cost of assets would have been already allowed as application of funds in the year in which the assets were purchased. Therefore, the loss on sale of these assets cannot be treated as application of funds once again. It would amount to double deduction - Tri - TMI Updates - Highlights .....

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