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Income Tax - Highlights / Catch Notes

Home Highlights January 2013 Year 2013 This

Broken period interest paid to the sellers of the securities - ...

Income Tax

January 5, 2013

Broken period interest paid to the sellers of the securities - revenue v/s capital - if the securities were held by the banking company as stock-in-trade of the business, interest paid for the broken period would constitute allowable outgo in the hands of the assessee bank. - AT

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