Share application money is capital borrowed for the purpose of business until shares are allotted
Last updated: 03 January 2023
Court :
ITAT Delhi
Brief :
It was held that Share application money is capital borrowed for purpose of business or profession until shares are allotted.
Citation :
ITO (2020) 77 ITR 50 (SMC) (SN) (Delhi) (Trib.)
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FCS Deepak Pratap Singh
Published in Income Tax
Views : 230
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