https://www.taxtmi.com/caselaws?id=286074 The High Court of Bombay dismissed the revenue's appeal challenging the allowance of the claim for carry forward and set off of deficits of earlier years under the Income Tax Act, 1961. The court upheld the decisions of the Tribunal based on precedents set by earlier judgments, stating that the Tribunal's rulings were in line with established legal interpretations. The issues regarding the treatment of capital expenditure in the income and expenditure account were also decided in favor of the assessee. en-us Wed, 14 Jan 2015 00:00:00 +0530 Wed, 26 Feb 2020 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286074 The High Court of Bombay dismissed the revenue's appeal challenging the allowance of the claim for carry forward and set off of deficits of earlier years under the Income Tax Act, 1961. The court upheld the decisions of the Tribunal based on precedents set by earlier judgments, stating that the Tribunal's rulings were in line with established legal interpretations. The issues regarding the treatment of capital expenditure in the income and expenditure account were also decided in favor of the assessee. Case-Laws Income Tax Wed, 14 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286074