Business Loss can’t be equated with Expenditure: S. 115JB doesn’t cover Loss incurred in redemption of Mutual Fund, says ITAT

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the business loss and business expenditure are different and the same cannot be equated since the expenditure is indicative of a volition but a loss comes to as ab extra without the role of the assessee. Allowing the appeal by the assessee, […]

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