TMI Blog2002 (1) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... a revenue expenditure, though such expenses have been incurred very much after the company has come into existence?" - we answer the question in the affirmative, i.e., in favour of the assessee and against the Revenue. - - - - - Dated:- 31-1-2002 - Judge(s) : Y. R. MEENA., A. C. GOYAL. JUDGMENT On an application filed under section 256(1) of the Income-tax Act, 1961, the Tribunal has refe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case, the assessee has claimed a loss of Rs.23,698 as preliminary expenses for setting up of the business. In concluding para. the Tribunal has found the following facts: "In page 20 of the book let filed by the assessee, the assessee has shown the amount paid to parties for carrying out the supply of granite as well as their polishing and cutting. It also shows advances given to various par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d not actually carry on the purchasing as the importer could not arrange for the transport of the goods." Considering the facts brought on record, as considered by the Tribunal, in our view, no interference is called for in the view taken by the Tribunal. In the result, we answer the question in the affirmative, i.e., in favour of the assessee and against the Revenue. The reference so made s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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