Tax Authority Upholds Disallowance: No Evidence of Business Activity or Livestock Sale by Assessee, Says CIT(A).

Tax Authority Upholds Disallowance: No Evidence of Business Activity or Livestock Sale by Assessee, Says CIT(A). https://www.taxtmi.com/highlights?id=26891 Disallowance on account of loss on sale of live stock - assessee was unable to prove that it was carrying on any business activity or possessing livestock in physical form and, therefore, ld. CIT(A) was correct in holding that appellant had not carried out any business activity nor it had sold the buffaloes - AT en-us Wed, 13 Jan 2016 10:55:14 +0530 Wed, 13 Jan 2016 10:55:14 +0530 TaxTMI RSS Generator Tax Authority Upholds Disallowance: No Evidence of Business Activity or Livestock Sale by Assessee, Says CIT(A). https://www.taxtmi.com/highlights?id=26891 Disallowance on account of loss on sale of live stock - assessee was unable to prove that it was carrying on any business activity or possessing livestock in physical form and, therefore, ld. CIT(A) was correct in holding that appellant had not carried out any business activity nor it had sold the buffaloes - AT Highlights Income Tax Wed, 13 Jan 2016 10:55:14 +0530 https://www.taxtmi.com/highlights?id=26891