Allowability of STCL on assignment of debts due from certain debtors even if assignee did not disclose recovered income

DCIT Vs Sicagen India Ltd. (ITAT Chennai)

Allowability of STCL on assignment of debts due from certain debtors even if assignee did not disclose recovered income

Conclusion: As regards to issue of allowability capital loss incurred by assessee on assigning of debts due from certain debtors, it was concluded that merely because assignee company did not disclose business income in their income tax returns for subsequent years in year of recovery of debts, that would not prejudice right

Please become a Premium member. If you are already a Premium member, login here to access the full content.