https://www.taxtmi.com/caselaws?id=64350 The ITAT ruled in favor of the assessee, determining that the business was set up on 28th July 1994, allowing revenue expenses from that date. It directed the AO to consider 1/3rd of entertainment expenses as non-disallowable, attributing them to employees' participation. The Tribunal upheld the CIT(A)'s decision on miscellaneous expenses, dismissing the Revenue's appeal. Thus, the assessee's appeal was allowed, and the Revenue's appeal was dismissed. en-us Wed, 31 May 2006 00:00:00 +0530 Tue, 05 Mar 2024 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64350 The ITAT ruled in favor of the assessee, determining that the business was set up on 28th July 1994, allowing revenue expenses from that date. It directed the AO to consider 1/3rd of entertainment expenses as non-disallowable, attributing them to employees' participation. The Tribunal upheld the CIT(A)'s decision on miscellaneous expenses, dismissing the Revenue's appeal. Thus, the assessee's appeal was allowed, and the Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 31 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64350