Disallowance of Claim of Loss on Revaluation of Securities: SC Condones Delay in SLP filed by Income Tax Dept against Syndicate Bank

SC condones delay in the SLP filed by the Income Tax Department in the challenge regarding the disallowance of claim of loss on revaluation of securities
By Kalyani B. Nair - On January 8, 2024 1:10 pm - 2 mins read
Supreme Court - Income Tax Department - Special Leave Petition - Revaluation of securities - Delay condonation - SLP - Syndicate Bank - taxscan

The Supreme Court condoned delay in the special leave petition filed by the Income Tax Department in the challenge regarding the disallowance of claim of loss on revaluation of securities. The issue for consideration before the Karnataka High Court was whether the Income Tax Appellate Tribunal (ITAT) was right in law in setting aside disallowance…

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