https://www.taxtmi.com/caselaws?id=413063 The Tribunal dismissed the Revenue's appeals for AYs 2011-12 and 2012-13, upholding the CIT(A)'s decisions. Anticipated losses were allowed as deductions under the completed contract method of accounting. The method of accounting including provisions for future losses was accepted. The set off of brought forward losses against income from other sources was permitted as the interest income was linked to the business operations. The Tribunal ruled in favor of the assessee, affirming the CIT(A)'s findings on all grounds. en-us Thu, 30 Sep 2021 00:00:00 +0530 Mon, 04 Oct 2021 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413063 The Tribunal dismissed the Revenue's appeals for AYs 2011-12 and 2012-13, upholding the CIT(A)'s decisions. Anticipated losses were allowed as deductions under the completed contract method of accounting. The method of accounting including provisions for future losses was accepted. The set off of brought forward losses against income from other sources was permitted as the interest income was linked to the business operations. The Tribunal ruled in favor of the assessee, affirming the CIT(A)'s findings on all grounds. Case-Laws Income Tax Thu, 30 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413063