https://www.taxtmi.com/caselaws?id=35667 The High Court of Madhya Pradesh determined that the loss of Rs. 19,854 incurred by the assessee in connection with a contract for the purchase of tendu leaves constituted a revenue loss for the assessment year 1974-75. The Court held that the loss was a business expenditure in the normal course of the assessee's business activities, emphasizing that the security deposit forfeited under the contract was part of the existing business, not for initiating a new venture. The Court ruled in favor of the assessee, declaring the loss as a revenue loss and denied costs for the reference. en-us Tue, 28 Jul 1981 00:00:00 +0530 Mon, 15 Mar 2010 18:46:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35667 The High Court of Madhya Pradesh determined that the loss of Rs. 19,854 incurred by the assessee in connection with a contract for the purchase of tendu leaves constituted a revenue loss for the assessment year 1974-75. The Court held that the loss was a business expenditure in the normal course of the assessee's business activities, emphasizing that the security deposit forfeited under the contract was part of the existing business, not for initiating a new venture. The Court ruled in favor of the assessee, declaring the loss as a revenue loss and denied costs for the reference. Case-Laws Income Tax Tue, 28 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35667