https://www.taxtmi.com/caselaws?id=440656 The Revenue's appeal against the deletion of an addition of Rs. 15,98,86,715/- on account of a claim of loss on the sale of finance receivables for Assessment Year 2011-12 was dismissed. The Learned Commissioner of Income Tax (Appeals) relied on precedent and found the transactions were in line with regulations and commercial practices. The Tribunal upheld the decision, noting the lack of evidence supporting the Revenue's claim of tax avoidance. The appeal by the Revenue was dismissed, affirming the deletion of the addition. en-us Wed, 19 Jul 2023 00:00:00 +0530 Fri, 21 Jul 2023 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440656 The Revenue's appeal against the deletion of an addition of Rs. 15,98,86,715/- on account of a claim of loss on the sale of finance receivables for Assessment Year 2011-12 was dismissed. The Learned Commissioner of Income Tax (Appeals) relied on precedent and found the transactions were in line with regulations and commercial practices. The Tribunal upheld the decision, noting the lack of evidence supporting the Revenue's claim of tax avoidance. The appeal by the Revenue was dismissed, affirming the deletion of the addition. Case-Laws Income Tax Wed, 19 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440656