Income received during negotiation for Transfer of Capital Asset as ‘Other Income’, Usage of Fund can’t be a Reason to impose Tax Liability: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the usage of fund cannot be the reason to impose tax liability. The assessee filed his return of income for the assessment year returning an income under the heads ‘income from business and profession, capital gains and other sources”. The assessment was completed under section […]

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