https://www.taxtmi.com/caselaws?id=426988 The Tribunal reversed the Commissioner of Income-tax (Appeals) decision and disallowed the write-off of fixed assets and deferred tax assets claimed as losses under the SARFAESI Act. The Tribunal held that these were capital losses and book entries, not revenue expenditures, and therefore not deductible. The appeal was decided in favor of the Assessing Officer, denying the company's claims for the losses. en-us Fri, 26 Aug 2022 00:00:00 +0530 Tue, 30 Aug 2022 10:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426988 The Tribunal reversed the Commissioner of Income-tax (Appeals) decision and disallowed the write-off of fixed assets and deferred tax assets claimed as losses under the SARFAESI Act. The Tribunal held that these were capital losses and book entries, not revenue expenditures, and therefore not deductible. The appeal was decided in favor of the Assessing Officer, denying the company's claims for the losses. Case-Laws Income Tax Fri, 26 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426988