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Bombay HC: Profit Element Embedded in Purchases is Subject to Tax, Not Entire Amount - (23 Mar 2020)

DIRECT TAXATION

Bombay High Court has held that when the Tribunal had concluded that the Assessee did make the purchase, as a natural corollary, not the entire amount covered by such purchase but the profit element embedded therein would be subject to tax.

Tags : BOMBAY HIGH COURT   PROFIT ELEMENT TAXABLE  

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