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Income Tax - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

Principal requirement for the applicability of Section 41 - ...


Supreme Court Clarifies Section 41: Benefit from Trading Liability Remission Essential for Income Tax Applicability.

November 21, 2015

Case Laws     Income Tax     SC

Principal requirement for the applicability of Section 41 - whether the assessee must obtain a benefit in respect of a trading liability by way of a remission or cessation thereof? - Held Yes - SC

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