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2011 (9) TMI 158 - HC - Income TaxDeduction - Whether the Income Tax Appellate Tribunal was justified in holding that the assessee commenced its business on 1st March 2001 and consequently entitled to claim deduction of revenue expenses is the question raised in this appeal - Held that:- the Income Tax Appellate Tribunal following the decision of this Court in the case of Commissioner of Income Tax V/s. Industrial Solvents & Chemicals Private Limited (1978 -TMI - 37466 - BOMBAY High Court) has held that since trial runs were carried out by the assessee from 1st March 2001, it must be held that the assessee has set up its business on 1st March 2001 - Decided against the revenue.
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