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2018 (8) TMI 262 - AT - Income TaxDisallowance of expenditure claimed since assessee was still to set up its manufacturing facility - allowable busniss expenditure - Held that:- The learned Commissioner of Income-tax (Appeals) fell in error in accepting the contention of the assessee that it had set up its business. Just because learned Assessing Officer computed the income by making a disallowance on the returned loss would not entitle the assessee to claim that an expenditure otherwise not allowable under the Act has to be allowed. Expenditure claimed by the assessee was incurred prior to setting up its business. We therefore have no hesitation in setting aside the order of the learned Commissioner of Income-tax (Appeals) and restoring the order of the learned Assessing Officer. - Decided in favour of revenue
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