Held that the amount spent for operationalising the business of a sick company for facilitating its own business. The loss incurred in the ordinary course of business. Allowable as business loss. (AY. 2004-05)
ITO v. Roj Enterprises (P) Ltd. (2022) 219 TTJ 70 (UO) (Pune)(Trib)
S. 28(i): Business loss-Operationalising a sick company-Loss is allowable as business loss. [S. 37(1)]