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Reversal of Previously Disallowed Securitisation Provisions Cannot Be Taxed Again: ITAT Mumbai
Case Law Details
- Case Name
- Mahindra and Mahindra Financial Services Ltd Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Mumbai
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Mahindra and Mahindra Financial Services Ltd Vs DCIT (ITAT Mumbai)
Reversal of Earlier Disallowed Provisions Not Taxable Because No Prior Deduction Was Allowed; ITAT Deletes Addition on Securitisation Provision Write-Back Due to Double Taxation Risk; Book Reversal Alone Cannot Create Taxable Income; ITAT Allows Reduction of Securitisation Provision Reversal From Taxable Income; Double Taxation Avoided Because Earlier Securitisation Provisions Were Already Disallowed; ITAT Upholds Relief on Securitisation Provision Reversal Due to Documentary Evidence.
The Income Tax Appellate ...
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