ITAT Decision on Treatment of Loss on Sale of Loans in Clix Finance

PCIT Vs Clix Finance India Pvt. Ltd. (Delhi High Court) Delhi HC ruling on PCIT vs. Clix Finance: Examining tax implications of loan sale, addressing disallowance under Section 14A. Introduction: The recent decision by the Delhi High Court in the case of Principal Commissioner of Income Tax (PCIT) vs. Clix Finance India Pvt. Ltd. has brought to light critical issues surrounding the treatment of losses on the sale of loans for income tax purposes. The court’s analysis delves into whether the Income Tax Appellate Tribunal (ITAT) was correct in law in deleting the addition of Rs. 103,87,99...