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Income Tax - Highlights / Catch Notes

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Low Tax Effect - where returned / computed income is negative - ...


Negative Income Appeals Revived Before Income Tax Appellate Tribunal; Not Dismissed as Academic Despite Returned Negative Income.

October 18, 2013

Case Laws     Income Tax     HC

Low Tax Effect - where returned / computed income is negative - Merely on the ground that even if the Assessing Officer's order is restored, the net result would be a negative income, the issue cannot be treated to be one of academic interest - Appeals restored before ITAT - HC

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