https://www.taxtmi.com/caselaws?id=180530 The Tribunal allowed the deduction of Rs. 7,17,000 under section 50(1)(iii) for the flat in New Bombay but dismissed the claim for the business loss of Rs. 1,42,720 as the assessee did not carry on any business during the relevant year. en-us Fri, 19 Jun 1998 00:00:00 +0530 Tue, 29 Mar 2016 10:34:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180530 The Tribunal allowed the deduction of Rs. 7,17,000 under section 50(1)(iii) for the flat in New Bombay but dismissed the claim for the business loss of Rs. 1,42,720 as the assessee did not carry on any business during the relevant year. Case-Laws Income Tax Fri, 19 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180530