ITAT asks the Govt. to bring out a mechanism to ensure tax recovery from ARCs/Banks on the sale of security assets
Last updated: 12 December 2022
Court :
ITAT Mumbai
Brief :
The Income Tax Appellate Tribunal, Mumbai Bench ("the ITAT") in the case of Abbasbhai A. Upletawala v. Income Tax Officer Ward 16(1)(1) [ITA No. 5332/Mum/2015 dated October 21, 2022] asked the government to bring out a mechanism to ensure tax recovery on the sale of security assets from the Asset Reconstruction Companies ("the ARCs") or banks.
Citation :
ITA No. 5332/Mum/2015 dated October 21, 2022
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Bimal Jain
Published in Income Tax
Views : 319
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