https://www.taxtmi.com/caselaws?id=427639 The Tribunal allowed the appeal, ruling in favor of the appellant, and deleted the impugned addition. It emphasized the importance of objective satisfaction by tax authorities and the necessity to base assessments on concrete evidence rather than assumptions or conjectures. The appellant was permitted to set off the current year loss against the additional income offered as business income. en-us Fri, 09 Sep 2022 00:00:00 +0530 Tue, 13 Sep 2022 21:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427639 The Tribunal allowed the appeal, ruling in favor of the appellant, and deleted the impugned addition. It emphasized the importance of objective satisfaction by tax authorities and the necessity to base assessments on concrete evidence rather than assumptions or conjectures. The appellant was permitted to set off the current year loss against the additional income offered as business income. Case-Laws Income Tax Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427639