https://www.taxtmi.com/caselaws?id=9432 The court upheld the Tribunal's decision, ruling in favor of the Revenue and against the assessee. It found that the commutation charges were not considered a business loss under sections 28 and 37 of the Income-tax Act. Additionally, the alternative claims for deduction under section 57(iii) and for capital loss under section 45 were rejected as the transactions were deemed to be on capital account, not qualifying for deductions. en-us Fri, 26 Aug 2005 00:00:00 +0530 Mon, 22 Jun 2009 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9432 The court upheld the Tribunal's decision, ruling in favor of the Revenue and against the assessee. It found that the commutation charges were not considered a business loss under sections 28 and 37 of the Income-tax Act. Additionally, the alternative claims for deduction under section 57(iii) and for capital loss under section 45 were rejected as the transactions were deemed to be on capital account, not qualifying for deductions. Case-Laws Income Tax Fri, 26 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9432