https://www.taxtmi.com/caselaws?id=12946 The Court allowed the appeal, affirming the legitimacy of the loss claimed by the assessee in a building construction project. The Assessing Officer's rejection of the loss was deemed unjustified due to lack of evidence of inflated expenses or understated sale values. The Commissioner of Income-tax (Appeals) and the Court found the claimed loss to be genuine, supported by reliable accounts and compliance with tax laws. The Tribunal's decision to reverse the Commissioner's view was challenged and ultimately deemed unjustified, leading to the allowance of the claimed loss by the assessee. en-us Wed, 29 Aug 2001 00:00:00 +0530 Mon, 25 May 2009 14:16:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12946 The Court allowed the appeal, affirming the legitimacy of the loss claimed by the assessee in a building construction project. The Assessing Officer's rejection of the loss was deemed unjustified due to lack of evidence of inflated expenses or understated sale values. The Commissioner of Income-tax (Appeals) and the Court found the claimed loss to be genuine, supported by reliable accounts and compliance with tax laws. The Tribunal's decision to reverse the Commissioner's view was challenged and ultimately deemed unjustified, leading to the allowance of the claimed loss by the assessee. Case-Laws Income Tax Wed, 29 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12946