Mr. X is assigning the right to receive amounts (i.e. Receivables) from his Trade Debtors to Mr. Y for a flat sum of 25 Lacs. Debtors Book value is Rs 3 Crores. Now the loss resulting from this transaction, Is this Loss a Business Loss or Capital Loss. Please Explain.
its a business loss
rest unrealised amount is bad debts
SSGS and Associates
Chennai
CA Inter
View Details
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
View Details
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
View Details
CMNITY HIRE
New Delhi
Others
View Details
CAclubindia
