AO Fails to Appreciate Nature of Business Activity of INX News: ITAT allows Business Loss Claim [Read Order]

AO - ITAT - claim - inx news - business loss - business activity - ITAT allows Business Loss Claim - taxscan

The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT) allowed the claim of Business loss in which the assessing officer (AO) failed to appreciate the nature of the business activity of the INX News. INX News Pvt. Ltd, the respondent-assessee was a media company and claimed the business loss to the assessing officer…

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