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Income Tax - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

Re-opening of assessment - interest expenses corresponding to ...


Reopening of Assessment u/s 147: Interest Expenses Linked to Diverted Funds Escaped Initial Review.

November 1, 2015

Case Laws     Income Tax     HC

Re-opening of assessment - interest expenses corresponding to the interest chargeable on the amount so diverted to the partners of the assessee firm for non business purposes has escaped assessment in the hands of the assessee firm within the meaning of Section 147 - HC

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