https://www.taxtmi.com/caselaws?id=351277 The Delhi High Court dismissed the Revenue's appeals regarding the treatment of loss on the sale of a loan portfolio by a non-banking financial company. The court upheld the assessee's position that the loss should be treated as a deduction for bad debt under Section 36(2)(i) of the Income Tax Act. The judgment emphasized the importance of consistency in applying tax laws based on past practices and judicial decisions, affirming the approach taken by the assessee in the previous year and supported by the Tribunal for A.Y. 2004-05. en-us Wed, 01 Nov 2017 00:00:00 +0530 Wed, 22 Nov 2017 08:25:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351277 The Delhi High Court dismissed the Revenue's appeals regarding the treatment of loss on the sale of a loan portfolio by a non-banking financial company. The court upheld the assessee's position that the loss should be treated as a deduction for bad debt under Section 36(2)(i) of the Income Tax Act. The judgment emphasized the importance of consistency in applying tax laws based on past practices and judicial decisions, affirming the approach taken by the assessee in the previous year and supported by the Tribunal for A.Y. 2004-05. Case-Laws Income Tax Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351277