Addition of surplus realised on sale of jewellery - The excess ...

Bank Must Return Surplus from Jewelry Sale; Not Recognized as Income Under Income Tax Act Section 5.

January 7, 2013

Case Laws Income Tax AT

Addition of surplus realised on sale of jewellery - The excess amount on sale of jewellery has neither accrued nor has been received by the bank as its income u/s. 5 of the I.T. Act. It continues to be an ascertained liability of the bank to be returned to the owner. - AT

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Addition of surplus realised on sale of jewellery - The excess ...

Bank Must Return Surplus from Jewelry Sale; Not Recognized as Income Under Income Tax Act Section 5.

January 7, 2013

Case Laws Income Tax AT

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