https://www.taxtmi.com/caselaws?id=248594 The Tribunal allowed the appeal, directing the AO to re-examine and re-compute the disallowed claims as revenue losses for advances written off and forfeited rental deposits, while remanding the issues of advance paid for advertising contract and interior work advance payments for fresh examination to determine their nature as revenue or capital losses. Additionally, the Tribunal instructed the AO to consider the cost of acquisition for short-term capital gain calculation, allowing the depreciation claimed by the assessee. en-us Wed, 28 May 2014 00:00:00 +0530 Tue, 17 Jun 2014 22:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248594 The Tribunal allowed the appeal, directing the AO to re-examine and re-compute the disallowed claims as revenue losses for advances written off and forfeited rental deposits, while remanding the issues of advance paid for advertising contract and interior work advance payments for fresh examination to determine their nature as revenue or capital losses. Additionally, the Tribunal instructed the AO to consider the cost of acquisition for short-term capital gain calculation, allowing the depreciation claimed by the assessee. Case-Laws Income Tax Wed, 28 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248594