Loss on account of assignment of debt - Nature of sum advanced - ...

Income Tax

May 3, 2014

Loss on account of assignment of debt - Nature of sum advanced - Letting or leasing out of premises - as far as the assessee is concerned, the advance was made to acquire a capital asset - loss is of capital in nature - AT

View Source

← Previous Next →

Loss on account of assignment of debt - Nature of sum advanced - ...

Income Tax

May 3, 2014

You may also like:

Business loss or Bad Debts - written off of advances – advances given for material supply – held as business loss instead of bad debts - claim allowed - AT

Advances to subsidiary company – Allowability as bad debt – the loss of advance by the assessee company to its 100% subsidiary company is to be allowed as a business loss - AT

Loss on pictures - bad debts - the assessee has claimed to incurred Loss due to non-recovery of advances and therefore, claimed it as loss which is not impermissible under the law.

Claim of bad debts – advance given for purchase of capital assets are not allowable as bad debts/business loss - AT

Deletion of disallowance of bad debts/ advances written off – Allowability to deduct the losses and debts of subsidiary company – claim allowed - AT

It is not necessary for an assessee to establish the debts to have actually become bad - Disallowance in respect of loss on advances written off allowed - AT

Assessee advanced the sum to its sister-concern only and that too in the nature of loan and not as a trading advance. - Amount not recovered - neither bed debt nor ...

Income from house property - notional rental income - no efforts were made by the Assessing Officer to determine the monthly rental/rate at which the Leased Property...

Claim towards bad debts - if the provision written back is the excess provision than the money realized, then that would 100% be brought to tax apart from the fact that...

Bad debts claimed u/s 36(2)(i) - Assessee debited ‘Amount written off paid against advance of land’ - As per accounting policy and general business practice any nature...

Quick Updates: