https://www.taxtmi.com/forum/issue?id=115605 Whether post cessation expenditure qualifies as a business loss depends on whether the expenses are wholly and exclusively for the business and remain attributable to income earning; gratuity and salaries on cessation must be examined for their character and incidental connection to winding up. Interest on working capital may be deductible if borrowing was for bona fide business purposes and remains linked to business operations or asset realization. Rent from letting former godowns is income from house property if the premises are let as property, but may be business income if the letting is integrally connected to a commercial activity. en-us Mon, 28 Oct 2019 18:02:03 +0530 Thu, 23 Jan 2025 15:54:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115605 Whether post cessation expenditure qualifies as a business loss depends on whether the expenses are wholly and exclusively for the business and remain attributable to income earning; gratuity and salaries on cessation must be examined for their character and incidental connection to winding up. Interest on working capital may be deductible if borrowing was for bona fide business purposes and remains linked to business operations or asset realization. Rent from letting former godowns is income from house property if the premises are let as property, but may be business income if the letting is integrally connected to a commercial activity. Discussion-Forum Income Tax Mon, 28 Oct 2019 18:02:03 +0530 https://www.taxtmi.com/forum/issue?id=115605