https://www.taxtmi.com/caselaws?id=75744 The Supreme Court granted leave in the special leave petition and remitted Income Tax Appeals back to the High Court for reconsideration in accordance with the law. The main question was whether the Tribunal correctly directed the Assessing Officer to allow deduction of losses at Rs. 111 per NCD as a business loss. The High Court was instructed to examine the impact of the assessee(s) retaining the detachable warrant and determine if there would be a trading loss. The Court refrained from expressing any opinion on the case's merits and directed the High Court to address the framed question. The civil appeals were disposed of with no order as to costs. en-us Tue, 19 Jan 2010 00:00:00 +0530 Tue, 21 Aug 2018 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75744 The Supreme Court granted leave in the special leave petition and remitted Income Tax Appeals back to the High Court for reconsideration in accordance with the law. The main question was whether the Tribunal correctly directed the Assessing Officer to allow deduction of losses at Rs. 111 per NCD as a business loss. The High Court was instructed to examine the impact of the assessee(s) retaining the detachable warrant and determine if there would be a trading loss. The Court refrained from expressing any opinion on the case's merits and directed the High Court to address the framed question. The civil appeals were disposed of with no order as to costs. Case-Laws Income Tax Tue, 19 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75744