https://www.taxtmi.com/caselaws?id=252736 The court held that undisclosed income that only reduces losses cannot be treated as taxable income under Chapter XIV-B. The appellant was allowed to claim depreciation against the undisclosed income, with the court emphasizing adherence to statutory provisions without expanding or restricting their scope. The appeal was allowed, setting aside the orders of the Income-tax Officer and the Tribunal, with no costs awarded. en-us Fri, 11 Jul 2014 00:00:00 +0530 Thu, 19 Feb 2015 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252736 The court held that undisclosed income that only reduces losses cannot be treated as taxable income under Chapter XIV-B. The appellant was allowed to claim depreciation against the undisclosed income, with the court emphasizing adherence to statutory provisions without expanding or restricting their scope. The appeal was allowed, setting aside the orders of the Income-tax Officer and the Tribunal, with no costs awarded. Case-Laws Income Tax Fri, 11 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252736