Loss incurred for any purpose which is an offence or which is prohibited by law is not deductible irrespective of…
If business not closed down, expenses allowed u/s 37(1) even if turnover was low as it was temporary lull which…
Forfeiture of deposit on account of cancellation of lease allowed as business loss u/s 28 being incidental to regular business…
Disallowance u/s 37(1) for pan masala seized deleted following SC decision that Explanation 1 apply to business expenses not to…
Loss by shop burglary arisen during the course of business allowed u/s 37(1) even when Insurance company assessed loss at…
Amount forfeited on default of installment for purchase of property was capital in nature as the amount was fixed irrespective…
Claim for business loss due to theft of cash allowed despite no FIR was lodged with Police Authorities in view…
Security deposit written off allowed as business loss us 37(1) even though rent security w/o in books was claimed wrongly…
Unrecoverable out of pocket expenses allowable u/s 37(1) as business loss though not admissible as bad debts written off u/s s 36(1)(vii) -…