No Deductions or Loss Carry Forward for Assessee Without Existing Business: Depreciation, Expenses, Interest Claims Denied.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Claim of expenses as against Nil income - When there is no business existed, in our opinion, the assessee is not entitled to claim deduction under the head “Depreciation, Establishment and General Expenses and Interest on Loan” and resultantly, carrying forward losses. - AT....