https://www.taxtmi.com/caselaws?id=12838 The High Court ruled against the assessee in all three issues: the forfeited security deposit was not considered a business loss as the amount was decreed in the assessee's favor, the provision for registration charges was deemed a contingent liability and not an allowable deduction, and the assessee could not be classified as an industrial company for tax purposes due to insufficient proof of income from manufacturing or production activities. The court decided in favor of the Revenue, disposing of the reference accordingly. en-us Thu, 13 Dec 2001 00:00:00 +0530 Fri, 22 May 2009 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12838 The High Court ruled against the assessee in all three issues: the forfeited security deposit was not considered a business loss as the amount was decreed in the assessee's favor, the provision for registration charges was deemed a contingent liability and not an allowable deduction, and the assessee could not be classified as an industrial company for tax purposes due to insufficient proof of income from manufacturing or production activities. The court decided in favor of the Revenue, disposing of the reference accordingly. Case-Laws Income Tax Thu, 13 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12838