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Income Tax - Highlights / Catch Notes

Home Highlights January 2016 Year 2016 This

Eligibility for claim of carry forward of deficit of an earlier ...


Section 12A Assessee Can Carry Forward Deficit, But Only Religious and Charitable Expenses Are Eligible for Adjustment.

January 11, 2016

Case Laws     Income Tax     AT

Eligibility for claim of carry forward of deficit of an earlier year to assessee registered u/s.12A - The expenditure that can be so adjusted can only be expenditure on religious and charitable purposes and no other. - AT

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