https://www.taxtmi.com/caselaws?id=67253 The Tribunal determined that the expenditure of Rs. 7,69,110 was capital expenditure as it was incurred before the business commenced. The Tribunal also held that the expenditure could not be claimed again in the subsequent assessment year under the mercantile accounting system. Additionally, the Tribunal found that judicial precedents applicable to existing businesses were not relevant to this new business setup, leading to the restoration of the Income Tax Officer's decision to disallow the expenditure, resulting in a successful appeal for the revenue. en-us Mon, 11 Jan 1982 00:00:00 +0530 Wed, 09 Mar 2011 17:28:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67253 The Tribunal determined that the expenditure of Rs. 7,69,110 was capital expenditure as it was incurred before the business commenced. The Tribunal also held that the expenditure could not be claimed again in the subsequent assessment year under the mercantile accounting system. Additionally, the Tribunal found that judicial precedents applicable to existing businesses were not relevant to this new business setup, leading to the restoration of the Income Tax Officer's decision to disallow the expenditure, resulting in a successful appeal for the revenue. Case-Laws Income Tax Mon, 11 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67253