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2021 (3) TMI 991 - AT - Income TaxDisallowance of Misc. activities and depreciation - DR contended that the Assessing Officer had rightly disallowed the assessee's foregoing twin claims for the reason that it had not started any commercial activity - HELD THAT:- The above contention carries no substance in our considered opinion. It has come on record in the CIT(A) order that the assessee's business activity had duly commenced as per the costs of the material consumed, employees benefit expenses, initial costs, administrative expenses and depreciation; respectively. The same have gone very much unrebutted from the Revenue side in its pleadings in Ground Nos. 1 & 2 as well as during the course of hearing. We thus quote hon'ble apex court's larger bench decision in CIT Vs. K.Y. Pillaiah & Sons [1966 (10) TMI 35 - SUPREME COURT] to express our completion agreement with the CIT(A) detailed discussion extracted in the preceding paragraph. The Revenue fails in its sole grievance therefore.
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