Thursday 27 March 2014

Exemption from wealth tax denied as house wasn't occupied by assessee himself for the purpose of bus

IT : To claim exemption under items (2) and (5) of section 2 (ea)(i) it must be established that house is occupied by assessee himself for purpose of any business or profession carried on by him and property itself is in nature of commercial establishment or complex and used in a business or trade carried thereon


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