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2018 (3) TMI 534 - HC - Income TaxDisallowance of returned loss holding that the assessee's business has not been set up - grievance of the Appellant is that the business has been set up as it evident from the fact that the Appellant had purchased two vehicles and also taken office on hire - Held that:- In the present facts, the purchase of two cars was preparatory to setting up of business. However, in the absence of necessary permission for operating license as required from the Regulatory Authorities, was not produced before the Authorities and the absence of various other requirement to conclude has been set up was found on facts by all the Authorities under the Act, to be lacking. Finding of fact arrived at by the Authorities under the Act, cannot be said to be perverse. No substantial question of law.
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