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Income Tax - Highlights / Catch Notes

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Exemption u/s 11 - violation of the provisions of section ...

Income Tax

October 9, 2019

Exemption u/s 11 - violation of the provisions of section 13(1)(d) and 13(2)(h) - Being a chairman in a company does not amount to holding a 'substantial interest' therein in terms of the clear mandate of Explanation 3 to section 13 of the Act.

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