Tuesday, December 31, 2019

Waiver of principal amount of deposits and debentures by NBFC constituted capital receipt; SLP dismissed

INCOME TAX: Where in case of assessee-NBFC, High Court took a view that waiver of principal component of deposits and debentures constituted capital receipt, SLP filed against said order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/2ZBxB7Z

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...