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Income Tax - Highlights / Catch Notes

Home Highlights May 2014 Year 2014 This

Remission/cessation of sales tax liability u/s 41(1) - ...

Case Laws     Income Tax

May 19, 2014

Remission/cessation of sales tax liability u/s 41(1) - differential amount representing the actual loan amount and the present value of the future liability paid by the company is on capital account and not taxable - AT

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  10. Additions u/s 41(1) - There cannot be cessation of liability twice - Therefore, when as per Explanation (1) there would be cessation of liability in the FY 2012-13 i.e....

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