Clause (iii) of section 271 (1) of the Indian Income Tax Act, 1961, uses the words income amount. Word revenue is defined under section 2 (24) of the Word Act. This is a comprehensive definition and it includes not only real income, but also things that are not income in the natural sense of income, which is the charging section in section 4, it is now reported that the revenue includes loss, It is also important to note that wherever the loss must be treated as income, the Act is specifically stated, as can be seen from clause 2 to section 64, on the other hand, section 271 (1). In (c) and 271 (1) (iii), it is not stated anywhere that income includes loss.
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