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Forex gain not taxable if income from house property was declared as 'income from house property': HC

July 13, 2018[2018] 94 399 (Calcutta)

IT : Where assessee constructed a residential house and rental income earned therefrom was offered to tax as income from house property and not as business income, provisions of section 43A would not apply to apparent gain made by assessee as a consequence of foreign exchange fluctuation in respect of lift imported from abroad

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