Allowable expenditure - Provision for diminution in the value of ...

Investment Loss Provision Doesn't Alter Transaction Nature; Business Losses Shouldn't Be Disallowed by Assessing Officer.

April 15, 2023

Case Laws Income Tax HC

Allowable expenditure - Provision for diminution in the value of investments - merely because loss was debited under the nomenclature “provision” did not alter the basic character of the transaction and the loss incurred due to non recoverability of the amount advanced in the ordinary course of business could not have been disallowed by the assessing officer. - HC

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Allowable expenditure - Provision for diminution in the value of ...

Investment Loss Provision Doesn't Alter Transaction Nature; Business Losses Shouldn't Be Disallowed by Assessing Officer.

April 15, 2023

Case Laws Income Tax HC

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