Case Law Details
Case Name : ACIT Vs Benetton India Pvt. Ltd. (ITAT Delhi)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Delhi
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ACIT Vs Benetton India Pvt. Ltd. (ITAT Delhi)
The assessee submitted that the advances written off is not a capital loss as it is written off as security deposits against the shops obtained on rent. Such write off of security deposits was incidental to the business of the assessee and was for running its operations. It was argued that when the security deposits was forfeited by the lessors, the same had become loss for the assessee, therefore, the same has been claimed as a business expenditure in the books of accounts. He relied on a number of judgments holding that any expenditure incurred i...
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person who taken deposit , how his deposit income is treated . his rent income , business income or speculative income