Assessee Denied Deduction for Machinery Loss u/s 80IB; Loss Classified as Capital and Insured.

Assessee Denied Deduction for Machinery Loss u/s 80IB; Loss Classified as Capital and Insured. https://www.taxtmi.com/highlights?id=18569 Confirmation u/s 80IB - assessee is not entitled for the claim of deduction u/s 80IB in respect of loss of machinery because it was rightly held by the Revenue Department that the same was a capital loss which was recouped by the Insurance Company - AT en-us Thu, 15 May 2014 13:20:53 +0530 Thu, 15 May 2014 13:20:53 +0530 TaxTMI RSS Generator Assessee Denied Deduction for Machinery Loss u/s 80IB; Loss Classified as Capital and Insured. https://www.taxtmi.com/highlights?id=18569 Confirmation u/s 80IB - assessee is not entitled for the claim of deduction u/s 80IB in respect of loss of machinery because it was rightly held by the Revenue Department that the same was a capital loss which was recouped by the Insurance Company - AT Highlights Income Tax Thu, 15 May 2014 13:20:53 +0530 https://www.taxtmi.com/highlights?id=18569