Dismissing the appeal the Court held that from the findings of the authorities below that after analysing the entire pleadings and the submissions made on either side, they had in unequivocal terms, held that there was no material available to prove that the loss incurred by the assessee was for the purpose of acquiring the property at Coimbatore for expansion of its business and hence, was not treated as business loss or bad debts. Such a finding was rendered by the authorities below, based on the material evidence. The disallowance of loss was justified. (AY.2006-07)