https://www.taxtmi.com/caselaws?id=347553 The Appellate Tribunal upheld the disallowance of business losses due to lack of evidence supporting the claim's connection to the business activity. However, it directed a re-examination of the interest expenditure disallowance issue based on new evidence presented during the appeal, allowing the claim if the loan was returned unused for business purposes. en-us Tue, 29 Aug 2017 00:00:00 +0530 Wed, 06 Sep 2017 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347553 The Appellate Tribunal upheld the disallowance of business losses due to lack of evidence supporting the claim's connection to the business activity. However, it directed a re-examination of the interest expenditure disallowance issue based on new evidence presented during the appeal, allowing the claim if the loan was returned unused for business purposes. Case-Laws Income Tax Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347553