Forfeiture of Earnest Money is Expenditure: ITAT deletes Disallowance [Read Order]

Forfeiture - of - Earnest - Money - is - Expenditure - ITAT - Disallowance - TAXSCAN

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held thatthe forfeiture of earnest money from OMDC is an expenditure and deleted the disallowance. Vardhaman Axles & Wheels Pvt. Ltd, the assessee of the Assessment Year 2014-2015 is directed against the order passed under section 250 of the Income Tax Act, 1961by Commissioner…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader