https://www.taxtmi.com/caselaws?id=344550 The Tribunal allowed the appeal of the assessee, reversing the Commissioner of Income Tax (Appeal) order. The Tribunal granted the set-off of carried forward business loss against profit from the sale of depreciable assets under Section 50 of the Income Tax Act, citing relevant case law. Additionally, the Tribunal allowed the claim for business loss/bad debt, following precedents and clarifications on the treatment of bad debts post-amendment in taxation laws. en-us Fri, 07 Apr 2017 00:00:00 +0530 Mon, 19 Jun 2017 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344550 The Tribunal allowed the appeal of the assessee, reversing the Commissioner of Income Tax (Appeal) order. The Tribunal granted the set-off of carried forward business loss against profit from the sale of depreciable assets under Section 50 of the Income Tax Act, citing relevant case law. Additionally, the Tribunal allowed the claim for business loss/bad debt, following precedents and clarifications on the treatment of bad debts post-amendment in taxation laws. Case-Laws Income Tax Fri, 07 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344550