The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the amount paid towards license fee in the first year of commencement of business cannot be treated as unexplained income. The decision was based on the Apex Court decision in the case of CIT vs. Bharat Engg. & Construction Co. wherein it […]
The post Amount Paid towards License Fee in the First Year of starting Business can’t be treated as Unexplained Income: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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