Speculative business / transaction - Disallowance of loss ...

Assessee's 'Sauda Settlement' Loss Disallowed; Lacks Transparency and Cannot Offset Wholesale Business Profits.

October 25, 2021

Case Laws Income Tax AT

Speculative business / transaction - Disallowance of loss suffered by the assessee on account of ‘Sauda Settlement’ - There is complete opaqueness about the nature and truth of the transaction/s between the assessee and SAOL, including the impugned credit thereto on 31/03/2013. The same thus cannot be regarded as a business loss and, in any case, is not available for set off against the business profit from its’ wholesale business - AT

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Speculative business / transaction - Disallowance of loss ...

Assessee's 'Sauda Settlement' Loss Disallowed; Lacks Transparency and Cannot Offset Wholesale Business Profits.

October 25, 2021

Case Laws Income Tax AT

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