28 September 2010
As section 30 to 36 not covers this allowance we need to check section 37 but it is a capital expenditure so allowance u/s 37 will not arise.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
28 September 2010
Yes so which section is applicable
29 September 2010
There is no specific section. As it is a Capital (Assets) Loss so it relates to CG head but not PGBP head so we should add back to Net profit under PGBP head and when the block will become empty then capital gain/loss should be considered.