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Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

Applicability of principle of mutuality – The surplus-excess of ...


Surplus from Mutual Arrangements Not Taxable Income, Says Tax Law Interpretation.

December 9, 2013

Case Laws     Income Tax     AT

Applicability of principle of mutuality – The surplus-excess of receipts over the expenditure as a result of mutual arrangement, could not be said to be 'income' for the purpose of the Act - AT

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