MALABAR AGRICULTURAL CO. LTD. versus COMMISSIONER OF INCOME-TAX
Deficit reduction and continuing loss and non-depreciation status The business business should be evaluated on Assisi's growing, processing and selling of tea, which shows that Assisi acquired the tea property and its assets during the relevant accounting year. Some part of the whole factory was sold and no business was done. The Assisi had no right to terminate the loss going forward and the Indian Income Tax Act, 1961, Sections 32 and 72 cash credits represent the amount of such credit.
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