The budget is an annual financial statement that is presented by the government of India, outlining its revenues and expenditures for the upcoming financial year. It is considered to be one of the most important policy statements of the government, as it lays out the government’s economic and fiscal policies for the year ahead. In …
The case of Amarnath Aggarwal Builders (P) Ltd. v. DCIT deals with the issue of whether a business loss claimed by the assessee, a real estate developer, could be treated as a bad and doubtful debt by the tax authorities. The assessee had invested Rs. 1,10,00,000/- in the purchase of land and payment of fees …
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