Disallowance of the refundable security deposit in computing the ...

Case Laws Income Tax

October 13, 2020

Disallowance of the refundable security deposit in computing the assessee’s business income for the year - when the income arising from the transfer is being subject to tax for AY 2010-11, how could a related cost possibly arise for being claimed/allowed in a subsequent year? The same militates against the concept of income (or income computation), which is (to be) at net of all expenditure incurred in relation thereto. - AT

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Disallowance of the refundable security deposit in computing the ...

Case Laws Income Tax

October 13, 2020

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