Section 24: Business Losses from Fixed Expenditures Allowable for Deduction Despite No Business Cessation Under Income Tax Act.

Deduction u/s. 24 - allowability of certain fixed expenditure to maintain its existence and run business operations - There is no complete cessession of business of the assessee and in order to maintain the establishment the assessee has incurred expenditure which has been claimed to be set off - allowable as business loss .....

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