https://www.taxtmi.com/caselaws?id=179844 The appeal by the revenue against the order of the Commissioner of Income Tax(A)-X, New Delhi for AY 2007-08 involved the disallowance of loss from the cement segment and the setting off of losses from the cement manufacturing business against the profit from the finance business. The ITAT upheld the decision of the CIT(A) to allow the set-off of losses, considering the cement manufacturing business as legitimate. The ITAT dismissed the revenue's appeal, concluding that the losses from the cement segment could indeed be set off against the profit from the finance business. en-us Fri, 04 Jan 2013 00:00:00 +0530 Thu, 10 Mar 2016 15:42:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179844 The appeal by the revenue against the order of the Commissioner of Income Tax(A)-X, New Delhi for AY 2007-08 involved the disallowance of loss from the cement segment and the setting off of losses from the cement manufacturing business against the profit from the finance business. The ITAT upheld the decision of the CIT(A) to allow the set-off of losses, considering the cement manufacturing business as legitimate. The ITAT dismissed the revenue's appeal, concluding that the losses from the cement segment could indeed be set off against the profit from the finance business. Case-Laws Income Tax Fri, 04 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179844