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Disallowance of expenditure - taking over of the loan or discharge of the loan - it is for the business purpose of the assessee and hence revenue in nature and cannot be treated as a capital loss - Tri

Income Tax - Disallowance of expenditure - taking over of the loan or discharge of the loan - it is for the business purpose of the assessee and, hence, revenue in nature and cannot be treated as a capital loss - Tri - TMI Tax Updates - Highlights .....

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