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Income Tax - Highlights / Catch Notes

Home Highlights September 2015 Year 2015 This

Exemption u/s 11 - if a car is purchased in the exclusive name ...

Income Tax

September 9, 2015

Exemption u/s 11 - if a car is purchased in the exclusive name of a trustee, who has complete control over the car and had no personal car of his own, in the absence of any resolution passed by the trust in writing, it has to be assumed that it was made available for use of the trustee irrespective of whether it was actually used or not. - AT

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