Addition of trading loss on sale of tools and dies unsustainable

G-Tekt India Pvt. Ltd. Vs DCIT (ITAT Delhi) ITAT Delhi held that addition on account of trading loss on sale of tools and dies unsustainable as the loss was incurred for sustainable and longer partnership and the same has given rise to generation of profits in subsequent years. Facts- The assessee company is engaged in the business of manufacturing automotive parts and components. The case of the assessee was selected for scrutiny u/s. 143(3) of the Act. Accordingly, AO made an addition on account of trading loss on sale of tools and dies of Rs.22.99 crores. CIT(A) sustained the addition. Bein...