Tuesday, December 10, 2019

Balance of P&L A/c couldn't be included while computing general reserve for the purpose of sec. 36(1)(viii)

INCOME TAX: Balance in profit and loss account, which is not in nature of any other reserve having specific objectives, would not form part of 'general reserves' for purpose of proviso to section 36(1)(viii)

from www.taxmann.com Latest Case Laws https://ift.tt/2LF99MW
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