https://www.taxtmi.com/caselaws?id=55674 The Tribunal upheld the decision to disallow Computation Charges amounting to Rs. 12,01,782, ruling that the loss arising from the commutation of debt was on a capital account, not a business loss eligible under relevant sections of the Act. The Tribunal emphasized the capital nature of the transaction, linked to the issue of share capital, and rejected the claim for deduction under section 57(iii). The appeal was dismissed, affirming the disallowance of Computation Charges. en-us Fri, 16 Apr 1993 00:00:00 +0530 Mon, 29 Nov 2010 13:25:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55674 The Tribunal upheld the decision to disallow Computation Charges amounting to Rs. 12,01,782, ruling that the loss arising from the commutation of debt was on a capital account, not a business loss eligible under relevant sections of the Act. The Tribunal emphasized the capital nature of the transaction, linked to the issue of share capital, and rejected the claim for deduction under section 57(iii). The appeal was dismissed, affirming the disallowance of Computation Charges. Case-Laws Income Tax Fri, 16 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55674