The Income Tax Appellate Tribunal (ITAT) held that a reduction in the price of the stock-in-trade can be allowed while computing business income only in trading accounts. But, if such a provision is made outside the trading account then the reduction may not be allowable. The assessee, PNB Gilts Ltd is a Non-Banking Financial Company […]
from Taxscan | Simplifying Tax Laws https://ift.tt/2YroQyH
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