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Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Rate of gross profit to be adopted for unaccounted sales - It is ...


Only Profit from Unaccounted Sales is Taxable, Not Entire Sales Amount According to Settled Legal Principle.

November 2, 2013

Case Laws     Income Tax     AT

Rate of gross profit to be adopted for unaccounted sales - It is settled law that the entire sales cannot be considered as income but only the profit embedded in it is to be considered as income - AT

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