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Income Tax - Highlights / Catch Notes

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The factory building was not put to use and was sold out prior ...


Factory Sold Before Use: Section 50 Income Tax Act Provisions Not Applicable.

October 26, 2017

Case Laws     Income Tax     AT

The factory building was not put to use and was sold out prior to it being used for business. Therefore, in such a situation, the provisions of Sec. 50 do not come into operation

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