Case Laws
Acts
Notifications
Circulars
Classification
Forms
Manuals
Articles
News
D. Forum
Highlights
Notes
🚨 Important Update for Our Users
We are transitioning to our new and improved portal - www.taxtmi.com - for a better experience.
⚠️ This portal will be discontinued on 31-07-2025
If you encounter any issues or problems while using the new portal,
please
let us know via our feedback form
so we can address them promptly.
Home
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.
|