Central Government appoints multiple Registrars of Companies with territorial jurisdictions under Section 396, Companies Act, 2013, effective 1 Januar...
Page of 4824
Press 'Enter' after typing page number.
9601 to 9620 of 96463 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
ITAT held that the revision under s.263 by PCIT was unwarranted and set aside, finding the AO had made adequate inquiries and legitimately adopted one of two tenable legal views. The Tribunal allowed the assessee's appeal: (1) loss on capital reduction of shares pursuant to NCLT order qualifies as capital loss within the ambit of section 2(14) and is allowable; (2) waiver/settlement of a loan constituted disposal of a capital asset entitling the assessee to capital loss; and (3) write-off of interest receivable as bad debt was properly reflected in books and deductible. Accordingly, additions made on these grounds were deleted.
ITAT held that the revision under s.263 by PCIT was unwarranted and set aside, finding the AO had made adequate inquiries and legitimately adopted one of two tenable legal views. The Tribunal allowed the assessee's appeal: (1) loss on capital reduction of shares pursuant to NCLT order qualifies as capital loss within the ambit of section 2(14) and is allowable; (2) waiver/settlement of a loan constituted disposal of a capital asset entitling the assessee to capital loss; and (3) write-off of interest receivable as bad debt was properly reflected in books and deductible. Accordingly, additions made on these grounds were deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
