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Income Tax - Highlights / Catch Notes

Home Highlights February 2012 Year 2012 This

When moneys are paid/spent for purchase of stock-in-trade then ...


High Court Affirms Section 40A(3) Applies to Stock-in-Trade Purchases; Payments Must Be Via Account Cheque or Draft.

February 10, 2012

Case Laws     Income Tax     HC

When moneys are paid/spent for purchase of stock-in-trade then also the provisions of Section 40A(3) will apply since this amounts to expenditure.... - HC

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