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Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Allowing the interest as deduction even though the films were ...


CIT Correctly Applies Section 263: Interest Deduction Allowed Despite Unreleased Films Deemed Erroneous, Prejudicial to Revenue.

November 27, 2013

Case Laws     Income Tax     AT

Allowing the interest as deduction even though the films were not released during the year was erroneous and prejudicial to the interest of revenue – CIT has correctly applied section 263 - AT

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