Case Law Details
Samtel Glass Limited Vs DCIT (Delhi High Court)
Introduction: A significant ruling has been delivered by the Delhi High Court in the case of Samtel Glass Limited Vs DCIT. The central point of contention was the disallowance of a security deposit forfeiture due to the lack of genuine documentation.
Background of the Case: The appellant, Samtel Glass Limited, challenged the decision of the Income Tax Appellate Tribunal (ITAT) which upheld an addition by disallowing what was perceived as a genuine business loss. The business loss in contention stemmed from a deal with Samtel Avionics Ltd. (SAL), where a security deposit was forfeited due to defects in the product supplied by Samtel Glass Limited.
Key Points from the Case Records
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