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Apex Court: Deposits Collected by Finance Company are Capital Receipts - (22 Jul 2019)

DIRECT TAXATION

Apex Court has held that the deposits collected by a finance company are capital receipts and not revenue receipts. The Court also held that the primary liability and onus is on the Department to prove that a certain receipt is liable to be taxed.

Tags : APEX COURT   CAPITAL RECEIPTS  

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