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2014 (11) TMI 1144 - AT - Income TaxDisallowance of business expenses - assessee had not commenced its business during the relevant accounting period - whether the most of work done during the year is capital work in progress for acquiring fixed assets? - Held that:- On the ground that the assessee has obtained approval of the said special economic zone from the Ministry of Commerce and as the assessee entered into an agreement with TCS for the lease of the SEZ area, is proof of the facts that the assessee has set up his business, the first appellate authority directed the AO to allow the revenue expenditure incurred by the assessee. We find no infirmity in this order of the first appellate authority. - Decided against revenue
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