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Income Tax - Highlights / Catch Notes

Home Highlights December 2020 Year 2020 This

Addition being depreciation allowance, interest and insurance ...

Case Laws     Income Tax

December 11, 2020

Addition being depreciation allowance, interest and insurance expenses relating to vehicles though the assessee was not the owner of such vehicles - The action taken by the assessee for registry the vehicles in the name of individual directors was within the framework of the provisions of law. Accordingly, we are of the view that this cannot be a ground to reject the claim of the assessee. - AT

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