To the extent the expenditure incurred for construction of the ...

Unexplained Building Costs Classified as Business Income, Allowing Set-Off Against Losses and Expenses.

November 9, 2019

Case Laws Income Tax AT

To the extent the expenditure incurred for construction of the building, out of unexplained source is concerned, it is to be construed as earned from the business and it will take character of the business income. Once this income is to be assessed under the “business income”, then all incidental benefits for set off from brought forward loss or any other expenditure is to be given to the assessee.

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To the extent the expenditure incurred for construction of the ...

Unexplained Building Costs Classified as Business Income, Allowing Set-Off Against Losses and Expenses.

November 9, 2019

Case Laws Income Tax AT

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