Held that the Assessee has invested certain amount for operationalising the business of a sick company for facilitating its own business, the irrecoverable loss incurred by the assessee on account of failure of the business due to technical snags and uncontrollable factors is a loss in the revenue filed and, therefore, allowable as deduction. (AY. 2004-05)
ITO v. Roj Enerprises (P) Ltd. (2022) 219 TTJ 70 (UO)(Pune)(Trib)
S. 28(i) : Business loss-Running of sick company-Business loss allowable as deduction. [S. 37(1)]