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Issue of shares to director to comply with a covenant in loan agreement with bank couldn’t be taxed u/s 56(2)(vii)
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Corporate Tax
Issue of shares to director to comply with a covenant in loan agreement with bank couldn’t be taxed u/s 56(2)(vii)
Posted on
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March 12, 2019
Tenet Tax Daily March 11 2019
By
tenettax-team
Corporate Tax
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No denial of exemption just because trust failed to specify purpose of accumulation of funds in Form 10
Compensation received for termination of construction of railway siding was capital receipt: ITAT
