https://www.taxtmi.com/caselaws?id=69397 The tribunal dismissed the appeal regarding the deduction for compensation paid to M/s Sabari Builders, upheld the decision to disallow deductions for losses incurred on advance property payments, and ruled against the levy of surcharge on undisclosed income based on the effective date of the surcharge provision. N. VIJAYAKUMARAN, J.M., supported the disallowance of the deduction claimed for losses on advance property payments, concluding that such losses should be treated as capital losses, not deductible as business losses. en-us Tue, 06 Jan 2004 00:00:00 +0530 Mon, 09 Jul 2012 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69397 The tribunal dismissed the appeal regarding the deduction for compensation paid to M/s Sabari Builders, upheld the decision to disallow deductions for losses incurred on advance property payments, and ruled against the levy of surcharge on undisclosed income based on the effective date of the surcharge provision. N. VIJAYAKUMARAN, J.M., supported the disallowance of the deduction claimed for losses on advance property payments, concluding that such losses should be treated as capital losses, not deductible as business losses. Case-Laws Income Tax Tue, 06 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69397