https://www.taxtmi.com/caselaws?id=373041 The Tribunal upheld the CIT(A)'s decision in favor of the assessee in all three issues. The deletion of bad debts claimed by the assessee was allowed based on precedent and the judgment of the Hon'ble Bombay High Court. The disallowance of trading loss was rejected as it did not fall under section 73, being transactions on behalf of clients. The deletion of prior period expenses was upheld as the expenses were consistently accounted for and met the criteria for allowance. The Tribunal dismissed the Revenue's appeal on all grounds, affirming the CIT(A)'s decisions. en-us Mon, 03 Dec 2018 00:00:00 +0530 Sat, 05 Jan 2019 08:05:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373041 The Tribunal upheld the CIT(A)'s decision in favor of the assessee in all three issues. The deletion of bad debts claimed by the assessee was allowed based on precedent and the judgment of the Hon'ble Bombay High Court. The disallowance of trading loss was rejected as it did not fall under section 73, being transactions on behalf of clients. The deletion of prior period expenses was upheld as the expenses were consistently accounted for and met the criteria for allowance. The Tribunal dismissed the Revenue's appeal on all grounds, affirming the CIT(A)'s decisions. Case-Laws Income Tax Mon, 03 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373041