https://www.taxtmi.com/caselaws?id=337593 The Tribunal dismissed the Revenue's appeal, confirming the allowance of Rs. 22,76,84,554/- as business loss. It allowed the assessee's appeal for statistical purposes, remanding the issue of Rs. 9,92,48,752/- to the AO for verification. The Tribunal emphasized that the loss should be allowed if it is backed by stock for confirmed export orders, ensuring the revenue impact is tax-neutral. The appeal filed by the assessee was allowed for statistical purposes, and the appeal filed by the Revenue was dismissed. en-us Mon, 07 Nov 2016 00:00:00 +0530 Thu, 12 Jan 2017 09:03:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337593 The Tribunal dismissed the Revenue's appeal, confirming the allowance of Rs. 22,76,84,554/- as business loss. It allowed the assessee's appeal for statistical purposes, remanding the issue of Rs. 9,92,48,752/- to the AO for verification. The Tribunal emphasized that the loss should be allowed if it is backed by stock for confirmed export orders, ensuring the revenue impact is tax-neutral. The appeal filed by the assessee was allowed for statistical purposes, and the appeal filed by the Revenue was dismissed. Case-Laws Income Tax Mon, 07 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337593