SC: Hindu Daughter-In-Law Widowed After Her Father-In-Law’s Death is Entitled to Maintenance  ||  SC: Vendor Remains a Necessary Party in Specific Performance Suits Even After Transferring Property  ||  Raj HC: Having Different Age Criteria For Contractual and Regular Appointments is Unconstitutional  ||  Delhi HC: Registered Property Title Prevails over Claims Based on Oral Family Settlements  ||  Gauhati HC: Only A Family Court Can Grant A Divorce under Muslim Law, Not A Civil Judge  ||  Del HC: Courts Cannot Compel Lawyers to Disclose Sources of Documents Filed on Clients' Instructions  ||  SC Explains When Shares Received After Company Amalgamation are Taxable as Business Income  ||  SC: Excavators, Dumpers Etc Used Within Factories aren’t Motor Vehicles For Road Tax Purposes  ||  SC: Complaints Alleging Fraud under Companies Act Can Be Filed Only By SFIO, Not By Private Parties  ||  SC: Preventive Detention Cannot Override Bail and Requires Proof of a Threat to Public Order    

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 2026 - All Rights Reserved