https://www.taxtmi.com/caselaws?id=21498 The court upheld the Tribunal's decision allowing the assessee to set off earlier years' losses as the business was not discontinued but only suspended. The court emphasized that the assessee's business activities continued, distinguishing it from cases of complete discontinuation. It found that the provisions of section 72(1) were satisfied, ruling in favor of the assessee and against the Revenue, with no costs awarded. en-us Tue, 25 Feb 1992 00:00:00 +0530 Wed, 25 Nov 2009 10:11:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21498 The court upheld the Tribunal's decision allowing the assessee to set off earlier years' losses as the business was not discontinued but only suspended. The court emphasized that the assessee's business activities continued, distinguishing it from cases of complete discontinuation. It found that the provisions of section 72(1) were satisfied, ruling in favor of the assessee and against the Revenue, with no costs awarded. Case-Laws Income Tax Tue, 25 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21498