INCOME TAX: There is no provision in Act and more particularly in Chapter IV-D from sections 28 to 44BB dealing with profit and gains of a business or a profession which can suggest that an expenditure claim’s disallowance could be restricted to ‘zero’ income therein resulting in ‘loss’ figures as well.INCOME TAX: There is no provision in Act and more particularly in Chapter IV-D from sections 28 to 44BB dealing with profit and gains of a business or a profession which can suggest that an expenditure claim’s disallowance could be restricted to ‘zero’ income therein resulting in ‘loss’ figures as well.www.taxmann.com Latest Case LawsRead More
