https://www.taxtmi.com/caselaws?id=15027 The High Court of Allahabad held that the losses claimed by the assessee were not allowable deductions. The Tribunal found that there was no evidence to prove the transactions with commission agents and that the losses were merely reflected through adjustment entries in the books without actual proof of transactions. The Court affirmed the Tribunal's decision, stating that the assessee did not conduct business through commission agents as claimed and did not suffer the alleged losses. Consequently, the Court concluded that there was no basis to modify the question referred by the Tribunal, as it did not arise from the Tribunal's order. en-us Tue, 02 Nov 1999 00:00:00 +0530 Mon, 27 Jul 2009 16:52:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15027 The High Court of Allahabad held that the losses claimed by the assessee were not allowable deductions. The Tribunal found that there was no evidence to prove the transactions with commission agents and that the losses were merely reflected through adjustment entries in the books without actual proof of transactions. The Court affirmed the Tribunal's decision, stating that the assessee did not conduct business through commission agents as claimed and did not suffer the alleged losses. Consequently, the Court concluded that there was no basis to modify the question referred by the Tribunal, as it did not arise from the Tribunal's order. Case-Laws Income Tax Tue, 02 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15027