https://www.taxtmi.com/caselaws?id=263667 The court upheld the rejection of the assessee's business loss claim related to dealership/distributorship deposit and cylinder hire charges, categorizing the deposits as capital in nature rather than business losses. The court ruled in line with precedent that the deposits were made to acquire a profit-making asset, thus disallowing the claim as a business loss or bad debt. The decision favored the Revenue, dismissing the appeal without costs. en-us Wed, 15 Jul 2015 00:00:00 +0530 Wed, 04 May 2016 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263667 The court upheld the rejection of the assessee's business loss claim related to dealership/distributorship deposit and cylinder hire charges, categorizing the deposits as capital in nature rather than business losses. The court ruled in line with precedent that the deposits were made to acquire a profit-making asset, thus disallowing the claim as a business loss or bad debt. The decision favored the Revenue, dismissing the appeal without costs. Case-Laws Income Tax Wed, 15 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263667