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Income Tax - Highlights / Catch Notes

Home Highlights May 2017 Year 2017 This

Nature of loss on the sale of foreign - the foreign cars do not ...

Case Laws     Income Tax

May 9, 2017

Nature of loss on the sale of foreign - the foreign cars do not form part of a block of assets and, admittedly, have not been granted depreciation - the foreign cars were utilized in the business of the assessee, the loss arising out of their sale would be liable to be categorized as a business loss - HC

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