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2007 (9) TMI 261 - HC - Income Tax
Business of setting up satellite business communication systems – Expenses incurred in the previous year during interregnum after the setting up of the business and before the commencement of business, all expenses would be permissible deduction - purchase order for equipment in July 1994 – installation of equipment completed in March 1995 – business should be held to have been set up on July 1994 – this was the relevant date for determining the nature of expenses incurred thereafter – expenditure on equipment deductible in A.Y. 1995-96 – revenue appeal dismissed