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Income Tax - Highlights / Catch Notes

Home Highlights December 2022 Year 2022 This

Interest earned on deposit - principle of mutuality - The ...

Income Tax

December 30, 2022

Interest earned on deposit - principle of mutuality - The interest earned on such deposit has a clear and direct nexus to the expenditure incurred in the form of electricity consumption charges and therefore, the same is allowable for set off against the expenditure and the principle of mutuality does apply on the alleged sum of interest earned on deposit with CESC Ltd. - AT

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