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Income Tax - Highlights / Catch Notes

Home Highlights May 2014 Year 2014 This

Cessation of liability - provision for discount - as the ...


Discount Deduction Allowed: Previously Disallowed Provision Can Reduce Current Year's Income Tax Liability.

May 30, 2014

Case Laws     Income Tax     AT

Cessation of liability - provision for discount - as the provision was disallowed in earlier year, reversal made during this assessment year ought to be allowed as deduction while computing total income of the year - AT

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