https://www.taxtmi.com/caselaws?id=217774 The Tribunal upheld the Assessing Officer's decision to disallow the claimed business loss and confirm the levy of interest under sections 234B, 234C, and 234D of the Income Tax Act for the assessment year 2006-07. The appellant, a company engaged in investment, finance, and trading activities, failed to provide sufficient evidence to prove active business operations, leading to the dismissal of the appeal. Despite arguments regarding various income sources, the Tribunal found no merit in the appellant's claims and upheld the disallowance of the business loss and the interest levy. en-us Fri, 12 Oct 2012 00:00:00 +0530 Mon, 22 Oct 2012 18:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217774 The Tribunal upheld the Assessing Officer's decision to disallow the claimed business loss and confirm the levy of interest under sections 234B, 234C, and 234D of the Income Tax Act for the assessment year 2006-07. The appellant, a company engaged in investment, finance, and trading activities, failed to provide sufficient evidence to prove active business operations, leading to the dismissal of the appeal. Despite arguments regarding various income sources, the Tribunal found no merit in the appellant's claims and upheld the disallowance of the business loss and the interest levy. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217774