https://www.taxtmi.com/caselaws?id=381265 The Tribunal allowed the appeal, overturning the disallowance of business loss claimed by the appellant. The Tribunal emphasized that business expenses should be allowed for the continued existence of the company, even if not actively engaged in business activities. Citing relevant precedents, the Tribunal concluded that the appellant had not completely ceased its business and had incurred genuine business expenditure, leading to the deletion of the disallowance. en-us Wed, 24 Apr 2019 00:00:00 +0530 Thu, 06 Jun 2019 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381265 The Tribunal allowed the appeal, overturning the disallowance of business loss claimed by the appellant. The Tribunal emphasized that business expenses should be allowed for the continued existence of the company, even if not actively engaged in business activities. Citing relevant precedents, the Tribunal concluded that the appellant had not completely ceased its business and had incurred genuine business expenditure, leading to the deletion of the disallowance. Case-Laws Income Tax Wed, 24 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381265