https://www.taxtmi.com/caselaws?id=780303 ITAT, Pune (AT) allowed the taxpayer's appeals. The tribunal held the foreign equity investment in the US WOS was made for carrying on and expanding business (exports and operations) and its write-off of Rs.97,61,190 constituted a business loss deductible as expenditure, reversing the CIT(A). The tribunal also reversed additions under s.68/115BBE for alleged unexplained cash credit of USD 154,282 (˜Rs.99,23,830), finding the funds were advances from a related US trading concern received through proper banking channels and adequately explained. Grounds raised were allowed. en-us Mon, 13 Oct 2025 00:00:00 +0530 Tue, 28 Oct 2025 08:33:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780303 ITAT, Pune (AT) allowed the taxpayer's appeals. The tribunal held the foreign equity investment in the US WOS was made for carrying on and expanding business (exports and operations) and its write-off of Rs.97,61,190 constituted a business loss deductible as expenditure, reversing the CIT(A). The tribunal also reversed additions under s.68/115BBE for alleged unexplained cash credit of USD 154,282 (˜Rs.99,23,830), finding the funds were advances from a related US trading concern received through proper banking channels and adequately explained. Grounds raised were allowed. Case-Laws Income Tax Mon, 13 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780303