https://www.taxtmi.com/caselaws?id=378777 The appeal against the order under section 263 of the Income Tax Act for the assessment year 2011-2012 was dismissed. The Tribunal upheld the decision of the Principal Commissioner of Income Tax regarding debit balances written-off claimed as business loss under relevant sections of the IT Act. The Tribunal found the assessment order erroneous due to the lack of examination by the Assessing Officer on the treatment of the written-off amounts in previous years, leading to a ruling in favor of the revenue's interests. en-us Thu, 18 Apr 2019 00:00:00 +0530 Mon, 22 Apr 2019 08:26:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378777 The appeal against the order under section 263 of the Income Tax Act for the assessment year 2011-2012 was dismissed. The Tribunal upheld the decision of the Principal Commissioner of Income Tax regarding debit balances written-off claimed as business loss under relevant sections of the IT Act. The Tribunal found the assessment order erroneous due to the lack of examination by the Assessing Officer on the treatment of the written-off amounts in previous years, leading to a ruling in favor of the revenue's interests. Case-Laws Income Tax Thu, 18 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378777