Wednesday, 8 October 2014

Amount paid by Mc Dowell to regain ownership of the manufacturing unit couldn’t be allowed as revenu

IT : Where assessee filed its return claiming exclusion of unclaimed credit balances written off, in absence of any material on record showing that said amount was already included in sales turnover of earlier years and suffered tax, impugned order passed by Tribunal allowing assessee's claim was to be set aside


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