https://www.taxtmi.com/caselaws?id=445974 Delhi HC dismissed revenue's appeal regarding loss on sale of loan portfolio. The assessee sold financial receivables worth Rs. 10,11,71,94,000 to Shriram for Rs. 9,08,29,87,000, claiming the difference as revenue loss. ITAT had allowed the claim, finding that the assessee's right to receive money from debtors arose in ordinary course of business and was not capital in nature. The Tribunal determined the liability crystallized in the assessment year 2010-11 based on the assignment agreement. HC upheld ITAT's decision, noting revenue failed to propose any question of law challenging the factual findings as perverse. en-us Thu, 02 Nov 2023 00:00:00 +0530 Thu, 23 Nov 2023 07:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445974 Delhi HC dismissed revenue's appeal regarding loss on sale of loan portfolio. The assessee sold financial receivables worth Rs. 10,11,71,94,000 to Shriram for Rs. 9,08,29,87,000, claiming the difference as revenue loss. ITAT had allowed the claim, finding that the assessee's right to receive money from debtors arose in ordinary course of business and was not capital in nature. The Tribunal determined the liability crystallized in the assessment year 2010-11 based on the assignment agreement. HC upheld ITAT's decision, noting revenue failed to propose any question of law challenging the factual findings as perverse. Case-Laws Income Tax Thu, 02 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445974