https://www.taxtmi.com/highlights?id=54896 Loss of precious metal - Notional loss or actual loss - Abnormal loss incurred by the assessee can be treated as revenue expenditure to be allowable during this year or the abnormal loss can be amortised in 2 to 3 years. In our considered view no doubt the losses considerably high, we direct assessing officer to amortise the abnormal loss in 2 years that is 50% during this assessment year and balance in the next assessment year. - AT en-us Thu, 24 Sep 2020 11:42:12 +0530 Thu, 24 Sep 2020 11:42:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=54896 Loss of precious metal - Notional loss or actual loss - Abnormal loss incurred by the assessee can be treated as revenue expenditure to be allowable during this year or the abnormal loss can be amortised in 2 to 3 years. In our considered view no doubt the losses considerably high, we direct assessing officer to amortise the abnormal loss in 2 years that is 50% during this assessment year and balance in the next assessment year. - AT Highlights Income Tax Thu, 24 Sep 2020 11:42:12 +0530 https://www.taxtmi.com/highlights?id=54896