https://www.taxtmi.com/caselaws?id=258799 The Tribunal allowed the bid-loss claimed by the assessee, holding that it followed a consistent accounting system and recognized bid-loss only upon chit completion. The Tribunal directed the allowance of bid-loss disallowed by the Assessing Authority. The Court partly allowed the appeal on bad debts and excessive royalty payments, referring to previous judgments in favor of the assessee on both issues. The matter was remanded to the Assessing Authority to substantiate the business loss claim. en-us Fri, 09 Jan 2015 00:00:00 +0530 Tue, 11 Aug 2015 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258799 The Tribunal allowed the bid-loss claimed by the assessee, holding that it followed a consistent accounting system and recognized bid-loss only upon chit completion. The Tribunal directed the allowance of bid-loss disallowed by the Assessing Authority. The Court partly allowed the appeal on bad debts and excessive royalty payments, referring to previous judgments in favor of the assessee on both issues. The matter was remanded to the Assessing Authority to substantiate the business loss claim. Case-Laws Income Tax Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258799