Forfeited Security deposit given for lease allowable as Business Loss

DCIT Vs Ebony Retail Holdings Ltd. (Delhi ITAT)

It is not in dispute that assessee has given security deposit for taking the premises on lease. Learned Counsel for the Assessee referred to various replies filed by assessee-company at assessment stage which shows that assessee-company filed all the documentary evidences and explanation before A.O. on the matter in issue. Learned Counsel for the Assessee rightly contended that the security deposit was refundable on completion of the period of the lease. The agreement to this e

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