![Business Losses, Including Irrecoverable Amounts, Allowable u/s 28 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-Business-Losses-Irrecoverable-Amounts-Section-28-of-the-Income-Tax-Act-Income-Tax-Act-taxscan-1.jpg "Business Losses, Including Irrecoverable Amounts, Allowable u/s 28 of Income Tax Act: ITAT [Read Order]")
Business Losses, Including Irrecoverable Amounts, Allowable u/s 28 of Income Tax Act: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that business losses, including irrecoverable amounts from regular business...
![Challenge against Genuineness of Transaction not raised before ITAT does not survive before HC: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Karnataka-Income-tax-Genuine-transaction-Karnataka-High-Court-Genuineness-of-Transaction-ITAT-appeal-taxscan.jpeg "Challenge against Genuineness of Transaction not raised before ITAT does not survive before HC: Karnataka HC [Read Order]")
![Income Tax Deduction not Available on Expenditure Incurred for Overseeing Project of Holding Company: Telangana HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Income-Tax-Deduction-Telangana-HC-Holding-Company-Overseeing-Project-Income-tax-updates-taxscan.jpg "Income Tax Deduction not Available on Expenditure Incurred for Overseeing Project of Holding Company: Telangana HC [Read Order]")
![Carry Forward of Business Loss and set off against profit shall be decided by AO who deals with assessment concerning Subsequent Year: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Business-Loss-profit-assessment-concerning-Subsequent-Year-Delhi-High-Court-Assessing-Officer-taxscan.jpg "Carry Forward of Business Loss and set off against profit shall be decided by AO who deals with assessment concerning Subsequent Year: Delhi HC [Read Order]")
Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that deduction under section 10A of the Income Tax Act, 1961 has to be computed before setoff carry forward business loss and depreciation....
![Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-of-Income-Tax-Act-Carry-Forward-of-Business-Loss-Depreciation-ITAT-Income-Tax-taxscan.jpg "Deduction u/s 10A of Income Tax Act has to be computed before set off or Carry Forward of Business Loss and Depreciation: ITAT [Read Order]")
Loss on Forward Exchange Contracts of export business are business loss, not speculative loss u/s 43(5) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench held that loss on forward exchange contracts of the export business are business losses not speculative losses under Section 43(5) of the Income...
![Loss on Forward Exchange Contracts of export business are business loss, not speculative loss u/s 43(5) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Loss-on-Forward-Exchange-Contracts-export-business-business-loss-speculative-loss-Income-Tax-Act-ITAT-taxscan.jpg "Loss on Forward Exchange Contracts of export business are business loss, not speculative loss u/s 43(5) of Income Tax Act: ITAT [Read Order]")
![Delhi HC upholds Disallowance of Business Loss in absence of Necessary Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Delhi-HC-upholds-Disallowance-of-Business-Loss-in-absence-of-Necessary-Documents-TAXSCAN.jpg "Delhi HC upholds Disallowance of Business Loss in absence of Necessary Documents [Read Order]")
AO Fails to Appreciate Nature of Business Activity of INX News: ITAT allows Business Loss Claim [Read Order]
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...
![AO Fails to Appreciate Nature of Business Activity of INX News: ITAT allows Business Loss Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/AO-ITAT-claim-inx-news-business-loss-business-activity-ITAT-allows-Business-Loss-Claim-taxscan.jpg "AO Fails to Appreciate Nature of Business Activity of INX News: ITAT allows Business Loss Claim [Read Order]")
![Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Loss-Loss-of-Chit-Fund-Utilized-Chit-Fund-Loss-of-Chit-Fund-Utilized-for-Business-Purpose-Business-Loss-ITAT-taxscan.jpg "Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]")
![Sham Transaction between Associated Enterprises: ITAT Disallows Proprietary Business Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Sham-Transaction-between-Associated-Enterprises-ITAT-Disallows-Proprietary-Business-Loss-Sham-Transaction-Associated-Enterprises-ITAT-Proprietary-Business-Loss-Business-Loss-Loss-Taxscan.jpg "Sham Transaction between Associated Enterprises: ITAT Disallows Proprietary Business Loss [Read Order]")
![Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Loss-of-Chit-Fund-Chit-Fund-Utilized-for-Business-Purpose-Business-Loss-Chit-Fund-ITAT-taxscan-.jpg "Loss of Chit Fund Utilized for Business Purpose allowable as Business Loss: ITAT [Read Order]")