https://www.taxtmi.com/caselaws?id=177798 The High Court set aside the decisions of the lower authorities and remitted the matter to the Assessing Officer for fresh assessment. The Court emphasized the need to determine if the business was suspended or merely dormant in the year in question. If the business was not closed down, the claimed expenditure could be allowed as business expenditure against income from other sources under section 71 of the Act. The Court found that the lower authorities failed to appropriately address the appellant's contentions and provide specific findings, requiring a reevaluation based on these considerations. en-us Mon, 14 Dec 2009 00:00:00 +0530 Tue, 19 Jan 2016 14:41:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177798 The High Court set aside the decisions of the lower authorities and remitted the matter to the Assessing Officer for fresh assessment. The Court emphasized the need to determine if the business was suspended or merely dormant in the year in question. If the business was not closed down, the claimed expenditure could be allowed as business expenditure against income from other sources under section 71 of the Act. The Court found that the lower authorities failed to appropriately address the appellant's contentions and provide specific findings, requiring a reevaluation based on these considerations. Case-Laws Income Tax Mon, 14 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177798