https://www.taxtmi.com/caselaws?id=375514 The Tax Case involved an NBFC's claim for business loss on shares due to diminution value, which was disallowed by the Income Tax Appellate Tribunal. Despite the Assessee's arguments, the Tribunal and lower authorities held that the accounting method used lacked credibility, leading to the dismissal of the claim. The Court affirmed this decision, stating it was primarily factual and upheld the disallowance of the business loss. The case was dismissed in favor of the Revenue, with no costs awarded to either party. en-us Wed, 02 Jan 2019 00:00:00 +0530 Wed, 20 Feb 2019 06:38:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375514 The Tax Case involved an NBFC's claim for business loss on shares due to diminution value, which was disallowed by the Income Tax Appellate Tribunal. Despite the Assessee's arguments, the Tribunal and lower authorities held that the accounting method used lacked credibility, leading to the dismissal of the claim. The Court affirmed this decision, stating it was primarily factual and upheld the disallowance of the business loss. The case was dismissed in favor of the Revenue, with no costs awarded to either party. Case-Laws Income Tax Wed, 02 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375514