Tax Implications on Loan Portfolio Sale: Assessing Revenue Loss from Financial Receivables Sold to Shriram.

Nature of loss - Loss on sale of loans - the loan portfolios, concerning forty-five thousand (45,000) borrowers, had been sold to Shriram, and therefore, the difference between the figures [the difference between the value of the financial receivables and consideration received from Shriram] was sought to be claimed by the respondent/assessee as ‘loss’ on revenue account - HC .....

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