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Treatment for income tax purposes

This topic has 1 reply, 2 voices, and was last updated 1 year ago by Tax Tutor.

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July 27, 2021 at 2:55 pm #629579
Niven.01
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A company trades as a ship owner and recovered damages from ship repairers that exceeded the time stipulated for overhaul. What would be the treatment for the damages received for income tax purposes?
July 27, 2021 at 4:10 pm #629591
Tax Tutor
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