[aaykarbhavan] Treatment of a sum in hands of counterparty couldn’t decide its taxability in hands of assessee

Treatment of a sum in hands of counterparty couldn't decide its taxability in hands of assessee

June 18, 2014[2014] 45 taxmann.com 334 (Cochin - Trib.)

IT: Where assessee claimed deduction of interest and lease charges written off on account of non-payment of same by subsidiary company, even though amount so written off was offered by subsidiary as its income, it would not decide about taxability of said amount in hands of assessee and, thus, assessee's claim could not be allowed merely on aforesaid basis

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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