Sale in loss
This query is : Resolved
21 May 2012
suppose in case we purchase X product in 1 Lac (including custom duty & other & sale to other in 50 thousand (In loss), In this case Income Tax department accepted it or not? what is the solution or tax libility for that, please suggest me
21 May 2012
Yes IT dept can accept it. Provided there is not involved any related party transactions.
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