https://www.taxtmi.com/caselaws?id=302923 The Tribunal dismissed the appeal, affirming the classification of the amount receivable as a loan, not a trade advance. Consequently, the assessee was denied deduction under Section 36(1)(vii) and the claim for business loss under Section 37 was rejected. The loss was determined to be capital in nature, with cited case laws deemed irrelevant to the case. en-us Thu, 25 Jun 2015 00:00:00 +0530 Fri, 24 Jun 2022 07:47:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302923 The Tribunal dismissed the appeal, affirming the classification of the amount receivable as a loan, not a trade advance. Consequently, the assessee was denied deduction under Section 36(1)(vii) and the claim for business loss under Section 37 was rejected. The loss was determined to be capital in nature, with cited case laws deemed irrelevant to the case. Case-Laws Income Tax Thu, 25 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302923