Monday, November 23, 2020

Hypothetical income cannot be taxable: Karnataka High Court

Karnataka government charges “wheeling charges” which are kind of revenue for the electricity it supplies to other state governments. The tax department said that while the state government had debited the expenses towards the wheeling charges in the current financial year, it had not added the revenue part in the accounts.

from Personal Finance News-Wealth-Economic Times https://ift.tt/3kTRuA1

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