Disallowance of forfeited amount as trade loss - assessee has ...

Assessee permitted to claim business loss on forfeited amount from canceled property purchase in ordinary business course.

December 12, 2019

Case Laws Income Tax AT

Disallowance of forfeited amount as trade loss - assessee has entered into an agreement and the impugned property was being purchased as stock-in-trade and subsequently expecting loss on selling the property in future, the deal was cancelled - since the transaction was entered in the normal course of business, claim of business loss allowed.

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Disallowance of forfeited amount as trade loss - assessee has ...

Assessee permitted to claim business loss on forfeited amount from canceled property purchase in ordinary business course.

December 12, 2019

Case Laws Income Tax AT

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