Bombay High Court Dismisses Revenue Appeal in Income Tax Case — Conditions Under Section 94(7) Are Cumulative. The court held that all three conditions in clauses (a), (b) and (c) of Section 94(7) of the Income Tax Act, 1961 must be satisfied for the loss to be ignored.
9 Jun 2010The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (ITA...
