https://www.taxtmi.com/caselaws?id=790103 Disallowance of loss from discontinued operations was found unsustainable where the assessee's slump sale, audited accounts, segment disclosures and note disclosures supported the expenditure claimed. The valuation report used to fix sale consideration was held irrelevant to tax allowability, which had to be tested independently under section 37(1). As no adverse material showed the expenses were unvouched, unsupported or not incurred for business purposes, the proportionate restriction lacked a factual basis. The deletion of the addition was therefore upheld and the disallowance was directed to be removed. en-us Wed, 25 Mar 2026 00:00:00 +0530 Mon, 20 Apr 2026 08:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790103 Disallowance of loss from discontinued operations was found unsustainable where the assessee's slump sale, audited accounts, segment disclosures and note disclosures supported the expenditure claimed. The valuation report used to fix sale consideration was held irrelevant to tax allowability, which had to be tested independently under section 37(1). As no adverse material showed the expenses were unvouched, unsupported or not incurred for business purposes, the proportionate restriction lacked a factual basis. The deletion of the addition was therefore upheld and the disallowance was directed to be removed. Case-Laws Income Tax Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790103