2025 (8) TMI 979 - SCH - Income Tax

Maintainability of appeals and treatment of pre commencement business expenses amid tribunal rectification preserved on dismissal of challenge

Maintainability of an appeal under 260A was considered alongside whether pendency of rectification proceedings before the Tribunal affects that ... Maintainability of the appeal u/s 260A - impact of pendency of rectification before Tribunal - Power of Tribunal for enhancement - Set up of business by appellant or not Disallowance of expenses under the head “operating expenses, financial expenses and depreciation” - assessee not yet started commercial operations - meaning of composite business and allowability of expenses - HC [2019 (7) TMI 877 - MADRAS HIGH COURT] decided appeal in favour of assessee HELD THAT:- We are not inclined to interfere with the order impugned; hence, the special leave petition is dismissed. Summary: This Supreme Court order, after hearing counsel, denies relief and disposes the matter on procedural grounds. The Court stated it was 'not inclined to interfere with the order impugned; hence, the special leave petition is dismissed.' The disposition is final as to the special leave petition; any ancillary or 'pending application(s), if any, shall also stand disposed of.' No substantive modification of the impugned order was made, and no further directions were issued. The ruling is strictly a dismissal of the special leave petition, maintaining the validity of the underlying impugned order and concluding all outstanding interim or collateral applications related to the petition.