Case Law Details
Case Name : DSP Adiko Holdings Pvt. Ltd. Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Mumbai
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DSP Adiko Holdings Pvt. Ltd. Vs DCIT (ITAT Mumbai)
The appeal before the Income Tax Appellate Tribunal (ITAT), Mumbai, involved DSP Adiko Holdings Pvt. Ltd. (the assessee), a Non-Banking Finance Company (NBFC), contesting the disallowance of a claim for bad debt or business loss. The claim stemmed from the non-recovery of a portion of a loan advanced to Shri Ramalinga Raju.
Issue and Background
In the Financial Year , the NBFC advanced a loan of to Ramalinga Raju as part of its lending business. The loan became irrecoverable, leading the assessee to file a suit in the Bombay High Court. In , t...
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Thanks for sharing case law