https://www.taxtmi.com/caselaws?id=362753 The Tribunal partly allowed the appeal, ruling in favor of the appellant by emphasizing the business nature of the loss incurred and the commercial expediency involved in the settlement with the client. The disallowed amount of Rs. 3,78,440 was deleted, recognizing it as a revenue expenditure under section 37 rather than a speculative loss. The decision was based on established records, distinguishing between business losses and capital expenditures. en-us Fri, 29 Jun 2018 00:00:00 +0530 Tue, 03 Jul 2018 07:22:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362753 The Tribunal partly allowed the appeal, ruling in favor of the appellant by emphasizing the business nature of the loss incurred and the commercial expediency involved in the settlement with the client. The disallowed amount of Rs. 3,78,440 was deleted, recognizing it as a revenue expenditure under section 37 rather than a speculative loss. The decision was based on established records, distinguishing between business losses and capital expenditures. Case-Laws Income Tax Fri, 29 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362753