https://www.taxtmi.com/caselaws?id=373728 The Tribunal upheld the CIT(A)'s decisions in a case involving disallowance of business loss and deduction under section 35(1)(ii) of the Income Tax Act. The disallowance of the business loss was deemed unjustified as the assessee provided substantial evidence of the transactions' legitimacy. Similarly, the deduction for donations made to a recognized institution was upheld despite subsequent approval withdrawal. The Tribunal also dismissed the revenue's claim of a procedural violation, affirming the CIT(A)'s handling of evidence. en-us Wed, 05 Dec 2018 00:00:00 +0530 Fri, 18 Jan 2019 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373728 The Tribunal upheld the CIT(A)'s decisions in a case involving disallowance of business loss and deduction under section 35(1)(ii) of the Income Tax Act. The disallowance of the business loss was deemed unjustified as the assessee provided substantial evidence of the transactions' legitimacy. Similarly, the deduction for donations made to a recognized institution was upheld despite subsequent approval withdrawal. The Tribunal also dismissed the revenue's claim of a procedural violation, affirming the CIT(A)'s handling of evidence. Case-Laws Income Tax Wed, 05 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373728