https://www.taxtmi.com/caselaws?id=440003 The tribunal ruled in favor of the assessee, directing the Assessing Officer to re-compute the income/loss considering the restatement of financial statements and the circumstances faced by the company during the assessment year. The disallowance of investments written-off, advances/debtors written-off, and cash/bank balances written-off as business loss was overturned, highlighting the need for adjustments in light of the company's situation. en-us Tue, 27 Jun 2023 00:00:00 +0530 Fri, 07 Jul 2023 07:56:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440003 The tribunal ruled in favor of the assessee, directing the Assessing Officer to re-compute the income/loss considering the restatement of financial statements and the circumstances faced by the company during the assessment year. The disallowance of investments written-off, advances/debtors written-off, and cash/bank balances written-off as business loss was overturned, highlighting the need for adjustments in light of the company's situation. Case-Laws Income Tax Tue, 27 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440003