https://www.taxtmi.com/caselaws?id=15218 The Tribunal allowed the assessee's claim of Rs. 31,911 as a revenue loss on the sale of investments, which were made for commercial expediency to continue business operations. The investments were considered necessary and incurred to further sales, aligning with the principle that losses on such investments qualify as revenue losses. The Tribunal's decision was upheld in favor of the assessee, with the reference under section 256(2) of the Income-tax Act, 1961 resolved in favor of the assessee and against the Revenue. en-us Mon, 14 Feb 2000 00:00:00 +0530 Mon, 03 Aug 2009 17:28:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15218 The Tribunal allowed the assessee's claim of Rs. 31,911 as a revenue loss on the sale of investments, which were made for commercial expediency to continue business operations. The investments were considered necessary and incurred to further sales, aligning with the principle that losses on such investments qualify as revenue losses. The Tribunal's decision was upheld in favor of the assessee, with the reference under section 256(2) of the Income-tax Act, 1961 resolved in favor of the assessee and against the Revenue. Case-Laws Income Tax Mon, 14 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15218