ITAT Allows Write-Off of Rs 54.88 Crore as Business Loss, Rejects Revenue’s Multiple Disallowances:

ITAT Allows Write-Off of Rs 54.88 Crore as Business Loss, Rejects Revenue’s Multiple Disallowances

ITAT allows business loss claims, deletes Section 68 addition and Section 14A disallowance.

Business Write-Offs Deductible Under Sections 28 And 37(1)

authorMeetu KumaridateJun 5, 2026
Last update on Jul 23, 2026
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ITAT Allows Write-Off of Rs 54.88 Crore as Business Loss, Rejects Revenue’s Multiple Disallowances

ITAT allows business loss claims, deletes Section 68 addition and Section 14A disallowance.

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Meetu Kumari is an Experienced Advocate and Content Writer with 4+ years of demonstrated history of working in the law practice industry. Skilled in Developing Content, Researching, and Drafting. Strong professional with a Bachelor of Science (B.Sc.) focused on Law from Gujarat National Law University.
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