https://www.taxtmi.com/caselaws?id=383292 The Court held that the assessee was not entitled to set-off business losses against other income for the relevant assessment years. It was determined that the assessee's business activities had effectively ceased, and the expenses claimed were not related to business purposes but rather for maintaining assets. The Court upheld the decisions of the lower authorities, dismissing the appeal and emphasizing that the claimed expenses did not qualify as eligible business losses for set-off. The Court also highlighted that it could not reassess factual findings concurrently established by the lower authorities. en-us Wed, 26 Jun 2019 00:00:00 +0530 Fri, 19 Jul 2019 14:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383292 The Court held that the assessee was not entitled to set-off business losses against other income for the relevant assessment years. It was determined that the assessee's business activities had effectively ceased, and the expenses claimed were not related to business purposes but rather for maintaining assets. The Court upheld the decisions of the lower authorities, dismissing the appeal and emphasizing that the claimed expenses did not qualify as eligible business losses for set-off. The Court also highlighted that it could not reassess factual findings concurrently established by the lower authorities. Case-Laws Income Tax Wed, 26 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383292