https://www.taxtmi.com/caselaws?id=349674 The appeal challenging the addition of a business loss of Rs. 47,55,50,000 for A.Y. 2009-2010 was dismissed. The appellant's claim for excess expenditure incurred on the project due to construction of CETPs was rejected as the loss had not been written off or shown as bad debt. The Tribunal held that the loss was premature as the amount was recovered in a subsequent year, emphasizing that deductions are not allowed for provisions or events that have not crystallized. The appellant was granted the opportunity to seek relief in future years if appropriate. en-us Tue, 17 Oct 2017 00:00:00 +0530 Mon, 23 Oct 2017 08:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349674 The appeal challenging the addition of a business loss of Rs. 47,55,50,000 for A.Y. 2009-2010 was dismissed. The appellant's claim for excess expenditure incurred on the project due to construction of CETPs was rejected as the loss had not been written off or shown as bad debt. The Tribunal held that the loss was premature as the amount was recovered in a subsequent year, emphasizing that deductions are not allowed for provisions or events that have not crystallized. The appellant was granted the opportunity to seek relief in future years if appropriate. Case-Laws Income Tax Tue, 17 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349674