https://www.taxtmi.com/caselaws?id=56974 The Appellate Tribunal ITAT Amritsar ruled in favor of the assessee in a dispute over the disallowance of a claimed loss of Rs. 4,74,655 in the film distribution business. The Tribunal found that the authorities' decision to disallow the loss was based on presumptions and lacked concrete evidence, ultimately deeming the disallowance unjustified. As a result, the Tribunal directed the Assessing Officer to allow the claimed loss, partially allowing the appeal filed by the assessee. en-us Fri, 26 Jun 1992 00:00:00 +0530 Tue, 07 Dec 2010 15:59:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56974 The Appellate Tribunal ITAT Amritsar ruled in favor of the assessee in a dispute over the disallowance of a claimed loss of Rs. 4,74,655 in the film distribution business. The Tribunal found that the authorities' decision to disallow the loss was based on presumptions and lacked concrete evidence, ultimately deeming the disallowance unjustified. As a result, the Tribunal directed the Assessing Officer to allow the claimed loss, partially allowing the appeal filed by the assessee. Case-Laws Income Tax Fri, 26 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56974