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The High Court of Bombay ruled that the donation of shares worth Rs. 2,50,000 to a trust cannot be taxed as deemed income under section 12(2) of the Income-tax Act, 1961. The judgment favored the assessee, citing a previous case.
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Home
The High Court of Bombay ruled that the donation of shares worth Rs. 2,50,000 to a trust cannot be taxed as deemed income under section 12(2) of the Income-tax Act, 1961. The judgment favored the assessee, citing a previous case.
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