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
Karia Overseas
Ahmedabad
CA
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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CAclubindia
