https://www.taxtmi.com/caselaws?id=56862 The Tribunal held that the claimed loss of Rs. 54,867 was not genuine due to lack of evidence supporting the transactions, delayed book entries, and involvement of close relatives without relevant experience. The dissenting opinion was overruled, and the majority, including the Third Member, found the transactions genuine, allowing the deduction. Additionally, the Tribunal directed the Income-tax Officer to allow depreciation on the refrigerator based on a previous order. en-us Tue, 23 Feb 1988 00:00:00 +0530 Tue, 07 Dec 2010 11:20:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56862 The Tribunal held that the claimed loss of Rs. 54,867 was not genuine due to lack of evidence supporting the transactions, delayed book entries, and involvement of close relatives without relevant experience. The dissenting opinion was overruled, and the majority, including the Third Member, found the transactions genuine, allowing the deduction. Additionally, the Tribunal directed the Income-tax Officer to allow depreciation on the refrigerator based on a previous order. Case-Laws Income Tax Tue, 23 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56862