https://www.taxtmi.com/caselaws?id=274685 The court condoned the delay in filing appeals under Section 260A of the Income Tax Act, 1961, based on reasons provided. Regarding the claim of loss for diminution in value of fertilizer bonds, the court allowed the claim as a revenue loss since the bonds were categorized as current investment assets. Additionally, the court upheld the Assessee's assertion of incurring no expenditure other than administrative expenses for earning dividend income under Section 14A(2) of the Act, finding no basis for the Assessing Officer to disallow any income. Ultimately, the appeals were dismissed as no substantial question of law was found. en-us Mon, 14 Dec 2015 00:00:00 +0530 Wed, 29 Aug 2018 06:10:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274685 The court condoned the delay in filing appeals under Section 260A of the Income Tax Act, 1961, based on reasons provided. Regarding the claim of loss for diminution in value of fertilizer bonds, the court allowed the claim as a revenue loss since the bonds were categorized as current investment assets. Additionally, the court upheld the Assessee's assertion of incurring no expenditure other than administrative expenses for earning dividend income under Section 14A(2) of the Act, finding no basis for the Assessing Officer to disallow any income. Ultimately, the appeals were dismissed as no substantial question of law was found. Case-Laws Income Tax Mon, 14 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274685