https://www.taxtmi.com/caselaws?id=410903 The High Court dismissed the Revenue's appeal, affirming the Tribunal's decision to allow the security deposit of Rs. 6 crores as a business expenditure under Section 37 of the Income Tax Act. The Court found no substantial question of law in the Tribunal's factual conclusions, supporting the treatment of the deposit as a legitimate business loss due to the failed business arrangement. The judgment upheld the Tribunal's analysis of the transaction's genuineness and its alignment with the appellant company's business objectives, emphasizing the allowable nature of the loss incurred in the course of business activities. en-us Mon, 02 Aug 2021 00:00:00 +0530 Mon, 04 May 2026 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410903 The High Court dismissed the Revenue's appeal, affirming the Tribunal's decision to allow the security deposit of Rs. 6 crores as a business expenditure under Section 37 of the Income Tax Act. The Court found no substantial question of law in the Tribunal's factual conclusions, supporting the treatment of the deposit as a legitimate business loss due to the failed business arrangement. The judgment upheld the Tribunal's analysis of the transaction's genuineness and its alignment with the appellant company's business objectives, emphasizing the allowable nature of the loss incurred in the course of business activities. Case-Laws Income Tax Mon, 02 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410903