https://www.taxtmi.com/caselaws?id=398851 The High Court ruled in favor of the appellant, determining that the loss from the wholly-owned subsidiary (WOS) investment should be treated as a business loss. The Court found that the investment was made for business purposes, not to create a capital asset, allowing the claimed business loss. The Tribunal's decision was overturned, and the appeal was granted in favor of the appellant, following the precedent set by the Bombay High Court in similar cases. en-us Wed, 09 Sep 2020 00:00:00 +0530 Fri, 15 May 2026 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398851 The High Court ruled in favor of the appellant, determining that the loss from the wholly-owned subsidiary (WOS) investment should be treated as a business loss. The Court found that the investment was made for business purposes, not to create a capital asset, allowing the claimed business loss. The Tribunal's decision was overturned, and the appeal was granted in favor of the appellant, following the precedent set by the Bombay High Court in similar cases. Case-Laws Income Tax Wed, 09 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398851