Speculation business - The words "carried on" stated in Section ...

Income Tax

June 3, 2012

Speculation business - The words "carried on" stated in Section 73 mean actual carrying of the activity and it has to be read in context of what actually was done by the company in the relevant year, rather than what was main object in the Memorandum of Association of the company. - HC

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Speculation business - The words "carried on" stated in Section ...

Income Tax

June 3, 2012

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