Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2016 Year 2016 This

Business loss - Nature of payment made towards one time ...

Case Laws     Income Tax

August 16, 2016

Business loss - Nature of payment made towards one time settlement to clear the dues - Tribunal was utterly wrong in holding that the amount paid by the assessee to the bank in settlement of the debt owed by New Tobacco Company was a business loss of the appellant - HC

View Source

 


 

You may also like:

  1. The Appellant sought payment of its pre-CIRP dues from the Respondent in a manner different from the approved resolution plan, which provided for payment of pre-CIRP...

  2. Disallowance of commodity derivative loss - speculative loss or not - Assessee is engaged in one and only business of derivative trading in different commodity exchanges...

  3. TDS u/s 194C - payments made by the assessee to its affiliates - Payment towards face value of the meal vouchers to the affiliates - The entire scheme relating to...

  4. The circular clarifies the time of supply for GST payment on spectrum allocation services when telecom operators opt for deferred payments. The bidder is liable to pay...

  5. Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

  6. Nature of loss - Speculative loss or normal business loss - Marked to market loss on hedging of the transaction - The Appellate Tribunal held that speculative...

  7. Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

  8. Nature of loss - capital loss or business loss - company in liquidation - assesssee claimed the same as business loss - Tribunal allowed the same as capital loss -...

  9. Disallowance of mark to market losses - Nature of loss - allowable business loss or not? - The assessee is consistently following the method of accounting. Therefore,...

  10. Nature of loss - Business loss or Speculation loss - transactions in purchase and sale of shares settled otherwise than the actual delivery - the said loss is computed...

  11. Reopening of assessment u/s 147 - reason to believe - Claim of deduction on account of payment made to settle a class action suit - AO observed the same as in the nature...

  12. In cases of spectrum allocation where the telecom operator opts for deferred payment instalments as per the Frequency Assignment Letter (FAL) issued by Department of...

  13. Losses written off - ‘business loss’ or ‘capital loss - The present facts of the assessee’s case shows that the investment was made not for the purpose of expansion of...

  14. Claim of business loss rejected - loss comprised of deposit relatable to dealership/distributorship and the balance referable to cylinder hire charges due to...

  15. Nature of loss - commodities transactions - Addition made u/s 43(5) - speculative loss or business loss - CIT(A) rightly concluded that all the transactions undertaken...

 

Quick Updates:Latest Updates