Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income-tax Act Section 44AC Amended: 'Purchase Price' Defined, 'Co-operative Society' Added After 'Firm' Effective April 1991.</h1> Section 44AC of the Income-tax Act is amended effective April 1, 1991. In sub-section (1), clause (a), an Explanation is added to define 'purchase price' as any amount paid or payable by the buyer for goods, excluding amounts paid for bid money in auctions or the highest accepted offer in tenders. Additionally, the term 'co-operative society' is inserted after 'firm' in the Explanation.
TaxTMI 
TaxTMI 
