The Income Tax Appellate Tribunal ( ITAT ) Hyderabad bench has held that the claim of Income tax dues can’t be more excessive than the resolution plan approved by NCLT. The assessee filed its return of income declaring a loss of Rs.33,19,28,249/-, Short Term Capital Gains of Rs.3,48,886/- and Long-Term Capital Gains of Rs.20,71,49,940/-. Finally,…
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