TMI BlogLoss of precious metal - Notional loss or actual loss - Abnormal loss incurred by the assessee can be...Loss of precious metal - Notional loss or actual loss - Abnormal loss incurred by the assessee can be treated as revenue expenditure to be allowable during this year or the abnormal loss can be amortised in 2 to 3 years. In our considered view no doubt the losses considerably high, we direct assessing officer to amortise the abnormal loss in 2 years that is 50% during this assessment year and balance in the next assessment year. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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