2 results for “capital gains”+ Section 75clear
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 purpose of business or profession is to be allowed as a deduction in computing taxable income. The expression "for purposes of business or profession" occurring in Section 36(1)(iii) of the Act is wider in scope than the expression "for the purpose of earning income, profits or gains". Accordingly, expenditure voluntarily incurred on the test