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Income Tax - Highlights / Catch Notes

Home Highlights January 2021 Year 2021 This

Disallowance of business loss - Proof of commencement of ...

Income Tax

January 9, 2021

Disallowance of business loss - Proof of commencement of business - It is well settled law that even a single transaction may constitute business as defined in section 2(13). It is not asking there should be a series of transaction. Both of purchase and the sale to constitute trade. - AT

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