152 results for “bogus purchases”+ Set Off of Lossesclear
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Bench: Shri Sunil Kumar Yadav
bogus business loss and claimed set off of same against income from house property. There is no intention whatsoever to revive its business. Therefore, the expenditure relating to keep corporate entity alive cannot be allowed as there was no intention of assessee to run a business. The ITA Nos.1302 & 1303/Bang/2016 Page 5 of 7 CIT(Appeals) has examined the issue