https://www.taxtmi.com/caselaws?id=58998 The Tribunal held that the ITO was unjustified in disallowing the loss to the assessee from the Association of Persons (AOP) once he had assessed the share from the AOP in relation to the capital gain on the plot of land. The Tribunal directed the matter to be reconsidered by the ITO to determine the admissibility of the loss from the contract work in the name of M/s Balaram D. Thakar after thorough verification and assessment on merit. Consequently, the assessee's appeal was treated as allowed for statistical purposes, indicating a favorable outcome for the assessee in terms of the appeal being restored for further assessment by the tax authorities. en-us Fri, 11 May 1979 00:00:00 +0530 Thu, 23 Dec 2010 14:40:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58998 The Tribunal held that the ITO was unjustified in disallowing the loss to the assessee from the Association of Persons (AOP) once he had assessed the share from the AOP in relation to the capital gain on the plot of land. The Tribunal directed the matter to be reconsidered by the ITO to determine the admissibility of the loss from the contract work in the name of M/s Balaram D. Thakar after thorough verification and assessment on merit. Consequently, the assessee's appeal was treated as allowed for statistical purposes, indicating a favorable outcome for the assessee in terms of the appeal being restored for further assessment by the tax authorities. Case-Laws Income Tax Fri, 11 May 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58998