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Case Law Details

Case Name : Apollo Munich Health Insurance Company Ltd. Vs DCIT (ITAT Hyderabad)
Related Assessment Year : 2010-11
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Apollo Munich Health Insurance Company Ltd. Vs DCIT (ITAT Hyderabad)

Rental advance, when it becomes unrecoverable, it becomes the business loss and not capital loss. But in the given case, it is not unrecoverable but it was adjusted towards agreed rent for lock in period as per agreement between the assessee and landlord. Therefore, in our considered view, the assessee has taken conscious decision to vacate the leased property and as per agreement, assessee has obligation towards lock in period as per the lease agreement. Therefore, the negotiated settlement for t

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