https://www.taxtmi.com/caselaws?id=289944 The Tribunal allowed the assessee's appeal, recognizing the business loss claim and confirming that the conditions of section 36(2) of the Income Tax Act, 1961 were met. The Tribunal held that discontinuing trading on behalf of third parties did not constitute discontinuance of the entire business, fulfilling the test of unity of control and common management. The claim for bad debts from the brokering business was allowed, overturning the decision of the Assessing Officer and the first appellate authority. en-us Tue, 19 Apr 2011 00:00:00 +0530 Mon, 31 Aug 2020 18:15:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289944 The Tribunal allowed the assessee's appeal, recognizing the business loss claim and confirming that the conditions of section 36(2) of the Income Tax Act, 1961 were met. The Tribunal held that discontinuing trading on behalf of third parties did not constitute discontinuance of the entire business, fulfilling the test of unity of control and common management. The claim for bad debts from the brokering business was allowed, overturning the decision of the Assessing Officer and the first appellate authority. Case-Laws Income Tax Tue, 19 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289944