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Income Tax - Highlights / Catch Notes

Home Highlights November 2016 Year 2016 This

Exemption u/s 11 - as assessee has already been allowed cost of ...


Section 11 Exemption Denied: Loan Repayment Not Considered Income Application Due to Prior Cost Allowance.

November 15, 2016

Case Laws     Income Tax     AT

Exemption u/s 11 - as assessee has already been allowed cost of addition to asset acquired out of the loans as application of income in relevant years and therefore assessee cannot be allowed the repayment of loan as application of the income - AT

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