https://www.taxtmi.com/caselaws?id=219272 The Tribunal allowed the appeal of the assessee, holding that the loss on account of irrecoverable advance written off was incidental to the business and should be allowed as a deduction. The Tribunal emphasized the direct nexus between the business operations of the assessee and the loss, classifying it as a revenue loss rather than a capital loss. en-us Tue, 24 Jul 2012 00:00:00 +0530 Sun, 09 Dec 2012 20:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219272 The Tribunal allowed the appeal of the assessee, holding that the loss on account of irrecoverable advance written off was incidental to the business and should be allowed as a deduction. The Tribunal emphasized the direct nexus between the business operations of the assessee and the loss, classifying it as a revenue loss rather than a capital loss. Case-Laws Income Tax Tue, 24 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219272