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Refund of vat amount

This query is : Resolved 
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(Querist)
20 September 2011
Dear sir,

If we recived vat refund amount from commerical tax Dept we should treat as income from business?
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MJ Krishnamurthy

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MJ Krishnamurthy (Expert)
20 September 2011 Mr Madhu Reddy,
It is reversal of an expenditure,so it gets added to profit only.
MJK

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