https://www.taxtmi.com/caselaws?id=281833 The Tribunal directed the AO to follow earlier years' orders, allowing a portion of the claimed business loss as a deduction and disallowing the rest as capital loss. Various issues were remanded for fresh consideration, with specific directions to adhere to legal precedents and previous decisions. Notably, the Tribunal clarified that special reserves created before a certain assessment year are not subject to taxation under a specific section of the Income Tax Act. en-us Tue, 31 Jan 2017 00:00:00 +0530 Mon, 08 Jul 2019 19:02:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281833 The Tribunal directed the AO to follow earlier years' orders, allowing a portion of the claimed business loss as a deduction and disallowing the rest as capital loss. Various issues were remanded for fresh consideration, with specific directions to adhere to legal precedents and previous decisions. Notably, the Tribunal clarified that special reserves created before a certain assessment year are not subject to taxation under a specific section of the Income Tax Act. Case-Laws Income Tax Tue, 31 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281833