The Income Tax Appellate Tribunal ( ITAT ) Delhi bench held that the loss of the amount of security deposit paid to landlord towards rented premises is deductible as ‘ Business Loss ’ under the Income Tax Act, 1961. The assessee Company obtained land on lease for business purpose. Towards this, the Company paid advance […]
The post Loss of Security Deposit towards Rented Premises Deductible as Business Loss: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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