https://www.taxtmi.com/caselaws?id=777876 ITAT held the trust is, in principle, eligible to carry forward the claimed deficit and set aside the CIT(A)'s dismissal for non-prosecution as unsustainable. The tribunal directed that the assessee must substantiate the deficit computation and the sources of funds (stated to be an unsecured loan from a third party), and remitted the matter to the AO for verification and fresh decision in accordance with law. The AO is to examine evidence for the expenditure and loan source before deciding the claim on merits. en-us Tue, 26 Aug 2025 00:00:00 +0530 Sat, 06 Sep 2025 08:16:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777876 ITAT held the trust is, in principle, eligible to carry forward the claimed deficit and set aside the CIT(A)'s dismissal for non-prosecution as unsustainable. The tribunal directed that the assessee must substantiate the deficit computation and the sources of funds (stated to be an unsecured loan from a third party), and remitted the matter to the AO for verification and fresh decision in accordance with law. The AO is to examine evidence for the expenditure and loan source before deciding the claim on merits. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777876