1,160 results for “disallowance”+ Section 120(4)(b)clear
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In the result, the appeal of the Assessee is allowed
disallowance of income would not arise. In other words, once\nthe registration is withdrawn, then the expression provided in Section\n13(1)(c) of the Act that such part of the diverted income shall get\ntaxed becomes otiose. That situation would never arise since the entire\nexemption would be denied once the registration is cancelled. Hence we\nare convinced that