Thursday, September 13, 2018

Sum received for discontinuing commodity trading was taxable if such business was carried on by another Co.

IT: Where assessee company received compensation for discontinuing commodity trading business, in view of fact that assessee's commodity trading was transferred entirely to its group concern without there being any impairment to business/profit making apparatus of assessee-company, said compensation would be taxable as business income

from www.taxmann.com Latest Case Laws https://ift.tt/2NDe4Aj

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