Bombay HC: Profit Element Embedded in Purchases is Subject to Tax, Not Entire Amount - 23.03.2020

Bombay High Court has held that when the Tribunal had concluded that the Assessee did make the purchase, as a natural corollary, not the entire amount covered by such purchase but the profit element embedded therein would be subject to tax.

Tags : Bombay High Court Profit Element Taxable

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