Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (2) TMI 340 - HC - Income TaxAllowance of deduction the expenses - business of the Assessee Company was not set up - distinction between setting up of business and commencement of business - Held that:- Tribunal on examination of facts found that the business of the respondent – assessee has been set up in the subject assessment year and consequently, the business loss arising on account of expenditure as claimed by the respondent – assessee was allowable. Thus when executives are employed and the infrastructure is ready to commence business, it can be said that the business has been set up for carrying on business. - Decided in favour of assessee.
|