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Case information
| Court | Supreme Court of Bangladesh — High Court Division |
|---|---|
| Case reference | Income Tax Reference 582/2019 |
| Case-reference year | 2019 |
| Case type | Income Tax Reference |
| Court website upload date | 09-SEP-26 |
The case-reference year is not the judgment year. The court website upload date is not a judgment date.
Official index description
Source: Supreme Court official index.
For the purpose of computing income or losses, as assessee must first have income under section 28 of the Income Tax Ordinance, 1984. From that income, allowable expenses shall be deducted under section 29 of the Ordinance, subject to certain circumstances where deductions are not admissible as provided under section 30 of the Ordinance. We find that the Tribunal was fully justified in upholding the rejection of the claim of business loss. The statutory mechanics of the Ordinance dictate that business deductions cannot be claimed against a non-existent revenue stream prior to the commencement of commercial operation.