Delhi HC: MYAS Not Bound to ‘Rubber-Stamp’ International Federation Choices  ||  AP HC: Fulfilling Rehabilitation Promises to Displaced is State’s Constitutional Obligation  ||  SC: Career Progression to Higher Echelons of Judiciary is Neither a Matter of Right Nor Entitlement  ||  Provisions of Tribunal Reforms Act 2022 Struck Down as Unconstitutional  ||  Madras HC: Repeated Remand Orders U/S 37 A&C Act are Unworkable Without Reversing Merits  ||  Delhi High Court: Unproven Immoral Conduct of a Parent Cannot Influence Child Custody Decisions  ||  Delhi High Court: Counsel Cannot Treat Passovers or Adjournments as an Automatic Right  ||  Delhi HC: Landlord’s Rent Control Act Rights Cannot be Waived by Contract With Tenant  ||  Bom HC: Arbitrator Who Halts Proceedings over Unpaid Revised Fees Effectively Withdraws From Office  ||  SC Holds That if Some Offences Are Quashed On Compromise, The FIR Cannot Continue For Others    

ITAT Ludhiana: One-Time Settlement Debt Not Advantageous if Loan Granted Was Separate Transaction - (18 Jun 2019)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT Ludhiana) has observed that the one-time settlement of debt by the bank cannot be treated as beneficial from the business under Section 28(iv) of the Income Tax Act, 1961 if such loan granted to the Assessee was a separate transaction.

Tags : ITAT   LUDHIANA   LOAN  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved