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Income Tax - Highlights / Catch Notes

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Disallowance toward provision for loss on contracts - reporting ...

Income Tax

July 7, 2016

Disallowance toward provision for loss on contracts - reporting profit on the basis of proportionality as per AS-7 - The reliability of the estimate is indeed very relevant and crucial to the claim for loss, lest any amount could be claimed under the garb of the likely loss - AT

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