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Liquidated damages to finance co. is ‘interest’ income eligible to section 10(23G) exemption
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Corporate Tax
Liquidated damages to finance co. is ‘interest’ income eligible to section 10(23G) exemption
Posted on
on
May 7, 2019
Tenet Tax Daily May 04 2019
By
tenettax-team
Corporate Tax
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Section 56(2)(viib) applies in the year in which shares are allotted and not when application money is received
No rectification u/s 154 is permissible once order passed by CIT(A) is accepted by income-tax department
