https://www.taxtmi.com/caselaws?id=306196 The Appellate Tribunal ruled in favor of the appellant in appeals for the Assessment Years 2010-11 and 2011-12. The Tribunal held that there is no provision in the Income Tax Act to restrict expenditure claims disallowance to zero income, allowing expenses resulting in the assessee's computed loss to be accepted. The Commissioner of Income Tax (Appeals) decision was reversed, emphasizing the absence of statutory support for limiting disallowance to zero income. The orders were pronounced on 22nd April 2021, directing the placement of a copy in the respective files. en-us Thu, 22 Apr 2021 00:00:00 +0530 Mon, 16 Jan 2023 20:28:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306196 The Appellate Tribunal ruled in favor of the appellant in appeals for the Assessment Years 2010-11 and 2011-12. The Tribunal held that there is no provision in the Income Tax Act to restrict expenditure claims disallowance to zero income, allowing expenses resulting in the assessee's computed loss to be accepted. The Commissioner of Income Tax (Appeals) decision was reversed, emphasizing the absence of statutory support for limiting disallowance to zero income. The orders were pronounced on 22nd April 2021, directing the placement of a copy in the respective files. Case-Laws Income Tax Thu, 22 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306196