https://www.taxtmi.com/caselaws?id=75527 The Bombay High Court ruled that the write-off of a loan by a mining company to its fully owned subsidiary for constructing a jetty did not qualify as a business loss incidental to the mining company's operations. Despite the assessee's arguments and reliance on previous judgments, the Court found that the loan write-off was not directly related to the mining business and therefore disallowed the deduction. The Court emphasized the necessity for losses to be directly linked to business activities to be considered deductible under the Income-tax Act, ultimately ruling in favor of the Revenue and denying the deduction claim. en-us Sat, 17 Jan 2009 00:00:00 +0530 Mon, 04 May 2026 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75527 The Bombay High Court ruled that the write-off of a loan by a mining company to its fully owned subsidiary for constructing a jetty did not qualify as a business loss incidental to the mining company's operations. Despite the assessee's arguments and reliance on previous judgments, the Court found that the loan write-off was not directly related to the mining business and therefore disallowed the deduction. The Court emphasized the necessity for losses to be directly linked to business activities to be considered deductible under the Income-tax Act, ultimately ruling in favor of the Revenue and denying the deduction claim. Case-Laws Income Tax Sat, 17 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75527