Debts Claim Allowable Only if Nexus with Carrying on of Business or Trade is Established: ITAT Directs CIT(A) Re-adjudication [Read Order]

By Fathima Karama A.M - On August 12, 2023 2:00 pm - 2 mins read
Debts Claim Allowable - Debts Claim - Claim - Debts - Nexus - Carrying on of Business or Trade is Established - Business - Trade - ITAT Directs CIT(A) Re-adjudication - ITAT - CIT(A) - Re-adjudication - Taxscan

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has directed Commissioner of Income Tax Appeals (CIT(A)) re-adjudication holding that the debts claimed would be allowable only if nexus with carrying on of business or trade was established.  Anil Bhalla on behalf of the assessee, Centum Learning Ltd submitted that the CIT(A) had erred both…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader