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(Querist)
30 April 2009 loss on sale of tempo(fixed assets of firm) is allowable as expenses while calculating adjusted profit?
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
30 April 2009 Since you are telling its tempo and should have been used for business. Therefore the loss on sale of tempo is allowed as expenses for calculating adjusted profits.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
01 May 2009 NO it is short term capital loss
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