2 results for “capital gains”+ Section 140clear
Sorted by relevance
In the result, the appeals of the assessee for the Assessment Years
Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar
capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section 28 of the Act. 20. In Madhav Prasad Jantia vs. Commissioner of Income Tax U.P. AIR 1979 SC 1291, this Court held that the expression "for the purpose of business" occurring under the provision is wider