https://www.taxtmi.com/article/detailed?id=603 Bad debts and business losses are losses incidental to business and not expenditures incurred to earn income excluded from total income; the provision directed at disallowing expenses for earning non taxable income applies to expenditures and not to such losses. Distinctions between exemptions that remove income from gross total income and deductions that reduce gross total income are dispositive, and therefore the expenses targeting provision does not apply to deductions claimable under the deductions chapter even when those deductions eliminate taxable income. en-us Fri, 18 Dec 2009 00:00:00 +0530 Fri, 18 Dec 2009 07:59:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=603 Bad debts and business losses are losses incidental to business and not expenditures incurred to earn income excluded from total income; the provision directed at disallowing expenses for earning non taxable income applies to expenditures and not to such losses. Distinctions between exemptions that remove income from gross total income and deductions that reduce gross total income are dispositive, and therefore the expenses targeting provision does not apply to deductions claimable under the deductions chapter even when those deductions eliminate taxable income. Articles Income Tax Fri, 18 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=603