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Income Tax - Highlights / Catch Notes

Home Highlights April 2014 Year 2014 This

A company, whose principal business is that of banking or ...


Companies in banking or finance exempt from Section 73 of Income Tax Act; "principal business" not clearly defined.

April 15, 2014

Case Laws     Income Tax     HC

A company, whose principal business is that of banking or financing, is excluded from the provisions of Section 73 - there is no definition of the word “principal business“ - HC

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