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MRI Deposit Write-off Remanded Due to Unexamined Section 37(1) & 28 Applicability
Case Law Details
- Case Name
- DCIT Vs Hubli Scan Centre Pvt. Ltd. (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Bangalore
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DCIT Vs Hubli Scan Centre Pvt. Ltd. (ITAT Bangalore)
MRI Deposit Write-off Under Scanner: ITAT Restores ₹4.19 Cr Claim to CIT(A) for Fresh Examination u/s 37(1) & 28
Bangalore ITAT has set aside the order of NFAC-CIT(A) deleting disallowance of ₹4.19 crore claimed by Hubli Scan Centre Pvt. Ltd. as business loss/expenditure u/s 37(1) on account of deposit & loan written off given to its associate concern, Suchirayu Health Care Solutions Ltd.
The Assessee, engaged in diagnostic services, had advanced about ₹5 crore as security deposit under agreements (2013, revised 2015) for propo...
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