Thursday, September 10, 2020

Forfeiture of Security Deposit shall be treated as Capital Loss: ITAT grants relief to Ebony Retail [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench while upholding the order passed by the CIT(A) held that disallowance made on account of forfeiture of security deposit being treated as capital loss not sustainable. The assessee, M/s. Ebony Retail was disallowed the amount of Rs.67,46,470 made on account of forfeiture of security deposit treating the […]

from Taxscan | Simplifying Tax Laws https://ift.tt/32dTRHM

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