Tribunal Rules Business Loss in China Not Deductible This Year Despite Foreign Court Decree Favoring Assessee.

Tribunal Rules Business Loss in China Not Deductible This Year Despite Foreign Court Decree Favoring Assessee. https://www.taxtmi.com/highlights?id=21327 Assessee has got decree of a foreign court in his favour, and therefore, there being a possibility of realizing the amount in near future, the Tribunal was justified in holding that business loss suffered by the appellant in China is not allowable in the year under consideration - HC en-us Tue, 06 Jan 2015 11:10:26 +0530 Tue, 06 Jan 2015 11:10:26 +0530 TaxTMI RSS Generator Tribunal Rules Business Loss in China Not Deductible This Year Despite Foreign Court Decree Favoring Assessee. https://www.taxtmi.com/highlights?id=21327 Assessee has got decree of a foreign court in his favour, and therefore, there being a possibility of realizing the amount in near future, the Tribunal was justified in holding that business loss suffered by the appellant in China is not allowable in the year under consideration - HC Highlights Income Tax Tue, 06 Jan 2015 11:10:26 +0530 https://www.taxtmi.com/highlights?id=21327