posted: "INCOME TAX : Expenditure incurred by assessee company for public issue of shares was capital in nature and, thus, same could not be allowed under section 37(1)INCOME TAX : Expenditure incurred by assessee company for public issue of shares was capital in "
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posted: "INCOME TAX : Where assessee purchased shares and recorded same in investment portfolio and frequency of instances of purchase and sale of shares were quite few justifying intention of assessee to purchase shares as capital asset, income arising from sale "
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posted: "INCOME TAX : Once assessee has accumulated income with a specific purpose and such purpose is specified in main objects of trust, then Assessing Officer cannot deny such accumulation of income merely for reason that purpose specified in Form No. 10 is vag"
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