MP High Court: Estranged Husband Entitled to Loss of Consortium Compensation After Wife’s Death  ||  J&K & Ladakh HC: Claims under Roshni Act Void Ab Initio, Ownership Rights Null from Inception  ||  Madras High Court Directs Expedited Trials in 216 Pending Criminal Cases Against MPs and MLAs  ||  MP High Court: Allowing Minor to Drive Without Valid License Constitutes Breach of Insurance Policy  ||  Punjab & Haryana High Court: Cyber Fraud Cases Uphold Public Trust, Cannot Be Quashed by Compromise  ||  SC: Customer-Banker Relationship Based on Mutual Trust, Postmaster’s Reinstatement Quashed  ||  Supreme Court: Company Buying Software for Efficiency and Profit Is Not a ‘Consumer’ under CPA  ||  SC: Long Custody or Trial Delay Not Ground for Bail in Commercial Narcotic Cases if S.37 Unmet  ||  Calcutta HC Disqualifies Politician Mukul Roy from Assembly under Anti-Defection Law  ||  Supreme Court Bans Mining in and Around National Parks and Wildlife Sanctuaries    

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