https://www.taxtmi.com/highlights?id=56254 Disallowance of business loss - Proof of commencement of business - It is well settled law that even a single transaction may constitute business as defined in section 2(13). It is not asking there should be a series of transaction. Both of purchase and the sale to constitute trade. - AT en-us Sat, 09 Jan 2021 22:56:01 +0530 Sat, 09 Jan 2021 22:56:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56254 Disallowance of business loss - Proof of commencement of business - It is well settled law that even a single transaction may constitute business as defined in section 2(13). It is not asking there should be a series of transaction. Both of purchase and the sale to constitute trade. - AT Highlights Income Tax Sat, 09 Jan 2021 22:56:01 +0530 https://www.taxtmi.com/highlights?id=56254