Question: 4. (a) What do you understand by the source theory in computing the liability of a taxpayer? (b) Explain, illustrate and distinguish between wholly and

4. (a) What do you understand by the "source theory" in computing the liability of a taxpayer? (b) Explain, illustrate and distinguish between "wholly and exclusively for the purposes of the trade" and "wholly and exclusively incurred in acquiring the income".

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