No Deductions or Loss Carry Forward for Assessee Without Existing Business: Depreciation, Expenses, Interest Claims Denied.

No Deductions or Loss Carry Forward for Assessee Without Existing Business: Depreciation, Expenses, Interest Claims Denied. https://www.taxtmi.com/highlights?id=67264 Claim of expenses as against Nil income - When there is no business existed, in our opinion, the assessee is not entitled to claim deduction under the head “Depreciation, Establishment and General Expenses and Interest on Loan” and resultantly, carrying forward losses. - AT en-us Thu, 22 Dec 2022 16:59:44 +0530 Thu, 22 Dec 2022 17:00:52 +0530 TaxTMI RSS Generator No Deductions or Loss Carry Forward for Assessee Without Existing Business: Depreciation, Expenses, Interest Claims Denied. https://www.taxtmi.com/highlights?id=67264 Claim of expenses as against Nil income - When there is no business existed, in our opinion, the assessee is not entitled to claim deduction under the head “Depreciation, Establishment and General Expenses and Interest on Loan” and resultantly, carrying forward losses. - AT Highlights Income Tax Thu, 22 Dec 2022 16:59:44 +0530 https://www.taxtmi.com/highlights?id=67264