https://www.taxtmi.com/caselaws?id=260831 The Appellate Tribunal ITAT Mumbai ruled in favor of the assessee, allowing the expenses disallowed by the CIT(A) and permitting the setoff of brought forward business loss and depreciation. The Tribunal emphasized the importance of considering commercial principles in determining business income and expenses, overturning the decisions of the lower authorities. en-us Wed, 13 May 2015 00:00:00 +0530 Fri, 19 Jun 2015 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260831 The Appellate Tribunal ITAT Mumbai ruled in favor of the assessee, allowing the expenses disallowed by the CIT(A) and permitting the setoff of brought forward business loss and depreciation. The Tribunal emphasized the importance of considering commercial principles in determining business income and expenses, overturning the decisions of the lower authorities. Case-Laws Income Tax Wed, 13 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260831