Case Law Details
Curewel (India) Ltd. Vs ITO (Delhi High Court)
Assessing Officer ought to have evaluated the claim made by the assessee for write-off of liability by Canara Bank in its favour amounting to Rs. 1,36,45,525/-, and should not have rejected the same merely on the ground of it being raised for the first time.
ince the Assessing Officer has not evaluated the appellant’s claim regarding non-taxability of income arising from write-off of liability by Canara Bank in its favour amounting to Rs. 1,36,45,525/- on merits, we remand the matter back to the Assessing Officer for evaluation of the said claim on its own merits.
FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT
1. The following questions of law arise for our consideration:
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