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2014 (1) TMI 1598 - ITAT MUMBAIDdetermination of date commencement of business - Application for admission of additional evidences under Rule 29 of the Appellate Tribunal Rules, 1963 – Held that:- The assessee-appellant is working on a project, the KYC project, and which would only be in pursuance to some agreement or understanding, with one or more entities, its customers - What is the critical stage or point of time when the project is or can be said to be complete, so that it is ready to be delivered or in an operable state, would need to be determined, and which can only be on the basis of hard facts and evidences - The matter is clearly factual - there has to be a matching of the expenditure with the revenue, so that the relevant costs can be set off there-against - if a particular cost has no direct bearing on the revenue, but stands incurred all the same, the same would need to be written off in the year it is incurred - The matter needs to be properly examined, which it has not been at any stage - the blame falls clearly on the assessee inasmuch as the onus to prove its case or lead evidence in its respect is only on it - the matter requires proper examination after admission of the additional evidences as being sought to be admitted, as the matter has necessarily to be decided in accordance with the law. The assessee, on whom the onus to establish its claims lie, would also be at liberty to raise any additional claim before the A.O. In view of the said decision, we do not consider it necessary to admit the assessee's additional ground, which becomes infructuous. - The matter remitted back to the AO for fresh adjudication – Decided in favour of Assessee.
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