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Interest paid on loan taken for purchase of land used as stock-in-trade to be allowed as revenue exp.
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Corporate Tax
Interest paid on loan taken for purchase of land used as stock-in-trade to be allowed as revenue exp.
Posted on
on
August 20, 2018
Tenet Tax Daily August 15 2018
By
tenettax-team
Corporate Tax
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Unexplained gifts once assessed in block assessment, can’t be reassessed in regular assessment
No disallowance of loss if it was allowed after considering assessee’s explanation during original assessment
