https://www.taxtmi.com/caselaws?id=63498 The Tribunal overturned the CIT(A) decision regarding the disallowance of establishment expenditure, finding that the non-returning of the advance by Shri Datta constituted a business loss eligible for deduction. The Tribunal emphasized the necessity for losses to directly relate to business activities, distinguishing between losses incidental to business operations and those unrelated to business activities. Consequently, the Tribunal allowed the claim for business loss due to Shri Datta's failure to repay the advance, contrary to the CIT(A)'s ruling. en-us Mon, 17 Apr 2000 00:00:00 +0530 Mon, 31 Jan 2011 13:04:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63498 The Tribunal overturned the CIT(A) decision regarding the disallowance of establishment expenditure, finding that the non-returning of the advance by Shri Datta constituted a business loss eligible for deduction. The Tribunal emphasized the necessity for losses to directly relate to business activities, distinguishing between losses incidental to business operations and those unrelated to business activities. Consequently, the Tribunal allowed the claim for business loss due to Shri Datta's failure to repay the advance, contrary to the CIT(A)'s ruling. Case-Laws Income Tax Mon, 17 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63498