https://www.taxtmi.com/caselaws?id=340401 The Court held that the investment write off should be characterized on the Revenue side as a loss rather than the Capital side. The losses, arising from equity participation in financial assistance to borrowers, were allowed as deductions in computing business income. Referring to relevant case laws and a CBDT circular, the Court emphasized that deductions must be allowed if they arise from conducting business. It concluded that the losses were properly classified as bad debts and dismissed the application, highlighting the deductibility of losses incidental to business operations. en-us Wed, 15 Mar 2017 00:00:00 +0530 Fri, 22 Jun 2018 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340401 The Court held that the investment write off should be characterized on the Revenue side as a loss rather than the Capital side. The losses, arising from equity participation in financial assistance to borrowers, were allowed as deductions in computing business income. Referring to relevant case laws and a CBDT circular, the Court emphasized that deductions must be allowed if they arise from conducting business. It concluded that the losses were properly classified as bad debts and dismissed the application, highlighting the deductibility of losses incidental to business operations. Case-Laws Income Tax Wed, 15 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340401