https://www.taxtmi.com/caselaws?id=192077 Actual transit breakages were treated as revenue expenditure in the accounting year in which they occurred, and the High Court's view allowing the deduction in that year was left undisturbed. The Supreme Court found no reason to interfere and dismissed the special leave petitions, thereby accepting that such breakage losses were deductible in the relevant year on the facts presented. en-us Mon, 11 Jul 2016 00:00:00 +0530 Fri, 12 May 2017 12:53:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192077 Actual transit breakages were treated as revenue expenditure in the accounting year in which they occurred, and the High Court's view allowing the deduction in that year was left undisturbed. The Supreme Court found no reason to interfere and dismissed the special leave petitions, thereby accepting that such breakage losses were deductible in the relevant year on the facts presented. Case-Laws Income Tax Mon, 11 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192077