https://www.taxtmi.com/caselaws?id=63249 The Tribunal upheld the CIT(A)'s decision that the business had been discontinued, classifying interest income as "Income from other sources," disallowing bad debts due to the ceased business, and upholding the disallowance of business expenses for the relevant assessment years. The appeals were dismissed, denying carry forward of losses and depreciation, and confirming the denial of various deductions and allowances due to the cessation of business activities. en-us Fri, 31 Jul 1998 00:00:00 +0530 Fri, 28 Jan 2011 16:55:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63249 The Tribunal upheld the CIT(A)'s decision that the business had been discontinued, classifying interest income as "Income from other sources," disallowing bad debts due to the ceased business, and upholding the disallowance of business expenses for the relevant assessment years. The appeals were dismissed, denying carry forward of losses and depreciation, and confirming the denial of various deductions and allowances due to the cessation of business activities. Case-Laws Income Tax Fri, 31 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63249