DCIT Vs Hindustan Thermal EPC: No Disallowance for Business Loss – ITAT Delhi

DCIT Vs Hindustan Thermal EPC Company Pvt Ltd (ITAT Delhi) Introduction: The case of DCIT Vs Hindustan Thermal EPC Company Pvt Ltd, heard by ITAT Delhi, pertains to the disallowance of expenses incurred by Hindustan Thermal in the assessment year 2012-13. The crux of the matter revolves around the justification of the deletion of a significant business loss. Detailed Analysis: 1. Nature of Business and Expenses: Hindustan Thermal is engaged in construction work, particularly related to power projects. The assessment year under scrutiny marks its initial year of business operations. The declare...