https://www.taxtmi.com/caselaws?id=25749 The High Court of Calcutta upheld the Tribunal's decision that the guarantee furnished by the assessee was not a normal business transaction but an accommodation based on extra-commercial considerations. The Court found no grounds to overturn the Tribunal's decision and answered the referred question in favor of the Revenue, affirming the disallowance of the loss claimed by the assessee. en-us Thu, 06 Nov 1986 00:00:00 +0530 Sat, 30 Jan 2010 16:52:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25749 The High Court of Calcutta upheld the Tribunal's decision that the guarantee furnished by the assessee was not a normal business transaction but an accommodation based on extra-commercial considerations. The Court found no grounds to overturn the Tribunal's decision and answered the referred question in favor of the Revenue, affirming the disallowance of the loss claimed by the assessee. Case-Laws Income Tax Thu, 06 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25749