Held that the immoveable properties acquired was stock in trade hence allowable as business loss. (AY. 2004-05)
CIT v. Ing Vysya Bank Ltd. (2022) 448 ITR 94 (Karn.)(HC)
S. 28(i) : Business Loss-Loss in stock-in-trade-Allowable as business loss.
S. 28(i) : Business Loss-Loss in stock-in-trade-Allowable as business loss.
Held that the immoveable properties acquired was stock in trade hence allowable as business loss. (AY. 2004-05)