deduction & disallownce
This query is : Resolved
16 November 2008
where 100% deduction is available in respect of profits of B & P what will happen if an expenditure is disallowed u/s 40A(3)
17 November 2008
It will be added back & will be be the income of business. But since the income is itself exempt, the disallownace WILL ALSO ESCAPE from tax...
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