{"id":1400,"date":"2012-02-28T12:05:22","date_gmt":"2012-02-28T12:05:22","guid":{"rendered":"http:\/\/www.itatonline.org\/info\/?p=1400"},"modified":"2012-03-15T02:00:35","modified_gmt":"2012-03-15T02:00:35","slug":"high-court-affirms-special-bench-law-on-brokers-bad-debts","status":"publish","type":"post","link":"https:\/\/itatonline.org\/info\/high-court-affirms-special-bench-law-on-brokers-bad-debts\/","title":{"rendered":"Bombay High Court Affirms Special Bench Law On Brokers&#8217; Bad Debts"},"content":{"rendered":"<p>In <strong><a href=\"https:\/\/itatonline.org\/archives\/index.php\/dcit-vs-shreyas-s-morakhia-itat-mumbai-special-bench-if-brokerage-offered-to-tax-the-principal-debt-qualifies-as-a-bad-debt-us-361vii-r-w-s-362\/\">DCIT vs. Shreyas S. Morakhia<\/a><\/strong> 40 SOT 432 the ITAT Mumbai Special Bench held that a broker was eligible to claim a deduction of the entire amount due to him from his client as a \u201cbad debt\u201d even though only the brokerage (and not the entire amount) had been offered as income. This judgement has been affirmed by the Bombay High Court today, 28.02.2012. <\/p>\n<div class=\"journal2\">\n<strong><a href=\"https:\/\/itatonline.org\/archives\/index.php\/cit-vs-shreyas-s-morakhia-bombay-high-court-if-brokerage-offered-to-tax-the-principal-debt-qualifies-as-a-bad-debt-us-361vii-r-w-s-362\/\">Click Here To Download The judgement<\/a><\/strong>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In <strong><a href=\"http:\/\/itatonline.org\/archives\/index.php\/dcit-vs-shreyas-s-morakhia-itat-mumbai-special-bench-if-brokerage-offered-to-tax-the-principal-debt-qualifies-as-a-bad-debt-us-361vii-r-w-s-362\/\">DCIT vs. Shreyas S. Morakhia<\/a><\/strong> 40 SOT 432 the ITAT Mumbai Special Bench held that a broker was eligible to claim a deduction of the entire amount due to him from his client as a \u201cbad debt\u201d even though only the brokerage (and not the entire amount) had been offered as income. This judgement has been affirmed by the Bombay High Court today, 28.02.2012<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/info\/high-court-affirms-special-bench-law-on-brokers-bad-debts\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,6],"tags":[],"class_list":["post-1400","post","type-post","status-publish","format-standard","hentry","category-all-information","category-supreme-courthigh-court-related"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/1400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/comments?post=1400"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/1400\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/media?parent=1400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/categories?post=1400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/tags?post=1400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}