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Income Tax - Highlights / Catch Notes

Home Highlights September 2015 Year 2015 This

Claim of business loss rejected - loss comprised of deposit ...

Income Tax

September 8, 2015

Claim of business loss rejected - loss comprised of deposit relatable to dealership/distributorship and the balance referable to cylinder hire charges due to fraud/cheating on him - the said deposit made should not be treated as revenue in nature and the loss thereof must not be treated as business loss. - HC

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