Exemption u/s 11 - The purchase cost of assets would have been ...

Income Tax Act Section 11: Asset Purchase Costs Count as Funds Application, Sale Losses Not Deductible Twice.

February 7, 2016

Case Laws Income Tax AT

Exemption u/s 11 - The purchase cost of assets would have been already allowed as application of funds in the year in which the assets were purchased. Therefore, the loss on sale of these assets cannot be treated as application of funds once again. It would amount to double deduction - AT

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Exemption u/s 11 - The purchase cost of assets would have been ...

Income Tax Act Section 11: Asset Purchase Costs Count as Funds Application, Sale Losses Not Deductible Twice.

February 7, 2016

Case Laws Income Tax AT

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