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Income Tax - Highlights / Catch Notes

Home Highlights May 2014 Year 2014 This

Diversion of income by overriding title - interest earned on ...


State Government Claims Interest on Grants, Excluding It from Assessee's Income per Directives.

May 28, 2014

Case Laws     Income Tax     AT

Diversion of income by overriding title - interest earned on grants – The directives created an overriding title in favour of the State Government – thus, the interest cannot be assessed as the assessee's income - AT

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