Disallowance of business expenses u/s. 37 - No business carried ...

Court Upholds Business Expense Claims u/s 37 Despite Temporary Lull in Activity, Citing Continuity of Operations.

May 11, 2022

Case Laws Income Tax AT

Disallowance of business expenses u/s. 37 - No business carried out by assessee - By no stretch of imagination, it can be held that, if there is no business receipt during the year, assessee should wind up the infrastructure and start all over again when the business receipts start following. CIT(A) reliance upon his own earlier order do not change of facts and circumstances that there is temporary lull - claim of assessee allowed - AT

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Disallowance of business expenses u/s. 37 - No business carried ...

Court Upholds Business Expense Claims u/s 37 Despite Temporary Lull in Activity, Citing Continuity of Operations.

May 11, 2022

Case Laws Income Tax AT

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