https://www.taxtmi.com/caselaws?id=188116 The Tribunal dismissed the Revenue's appeal challenging the denial of set off of loss on account of forfeiture of license fee. The Tribunal held that the assessee was entitled to set off the forfeited amount based on the cancellation of the license and subsequent forfeiture of fees, in line with the Madras High Court judgment. The Tribunal found no legal question arising and upheld the CIT (Appeals) decision to delete the addition made by the Assessing Officer, ultimately affirming the assessee's entitlement to the set off. en-us Tue, 08 Oct 2013 00:00:00 +0530 Wed, 30 Nov 2016 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188116 The Tribunal dismissed the Revenue's appeal challenging the denial of set off of loss on account of forfeiture of license fee. The Tribunal held that the assessee was entitled to set off the forfeited amount based on the cancellation of the license and subsequent forfeiture of fees, in line with the Madras High Court judgment. The Tribunal found no legal question arising and upheld the CIT (Appeals) decision to delete the addition made by the Assessing Officer, ultimately affirming the assessee's entitlement to the set off. Case-Laws Income Tax Tue, 08 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188116