Loss on sale of foreign cars was business loss not capital loss u/s 50 – High Court
August 11, 2017
High Courts, Income Tax, Judgments
Loss on sale of foreign cars held as business loss not capital loss u/s 50 as the imported cars did not form part of block of assets and depreciation was not allowable – High Court  ABCAUS Case Law Citation: ABCAUS 2026 (2017) (08) HC Assessment Year : …