https://www.taxtmi.com/caselaws?id=199966 The Tribunal upheld the classification of business loss from commodity trading as speculative loss due to lack of evidence supporting actual delivery. The notional addition of administrative and finance costs was justified and upheld as reasonable. Regarding deductions under Section 80IC, the Tribunal granted partial relief by attributing interest based on actual usage and directed a recomputation. The disallowance of additional depreciation on new plant and machinery was upheld. The appeals were partly allowed for the assessee and dismissed for the Department. en-us Thu, 22 Jun 2017 00:00:00 +0530 Fri, 16 Mar 2018 08:27:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199966 The Tribunal upheld the classification of business loss from commodity trading as speculative loss due to lack of evidence supporting actual delivery. The notional addition of administrative and finance costs was justified and upheld as reasonable. Regarding deductions under Section 80IC, the Tribunal granted partial relief by attributing interest based on actual usage and directed a recomputation. The disallowance of additional depreciation on new plant and machinery was upheld. The appeals were partly allowed for the assessee and dismissed for the Department. Case-Laws Income Tax Thu, 22 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199966