https://www.taxtmi.com/caselaws?id=331754 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. It held that the loss on sale of repossessed assets and the loss on sale of debentures and government securities were allowable as business losses. The Tribunal also upheld the CIT(A)'s decision to quash the restriction of the assessed loss to the returned loss. However, the disallowance under Section 14A was dismissed as it was not pressed by the assessee during the hearing. en-us Wed, 27 Jul 2016 00:00:00 +0530 Thu, 29 Dec 2016 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331754 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's appeal. It held that the loss on sale of repossessed assets and the loss on sale of debentures and government securities were allowable as business losses. The Tribunal also upheld the CIT(A)'s decision to quash the restriction of the assessed loss to the returned loss. However, the disallowance under Section 14A was dismissed as it was not pressed by the assessee during the hearing. Case-Laws Income Tax Wed, 27 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331754