https://www.taxtmi.com/caselaws?id=209412 The ITAT upheld the CIT(A)'s decision, confirming that the assessee's business had commenced during the assessment year, and the expenses incurred were revenue expenses. The ITAT noted that the AO's reliance on certain precedents was misplaced as the facts of the case indicated that the assessee had commenced its business activities. Consequently, the appeal by the Revenue was dismissed, affirming that the expenses should be allowed as business expenses under the head "revenue" and not capitalized. en-us Fri, 07 May 2010 00:00:00 +0530 Sat, 20 Jul 2013 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209412 The ITAT upheld the CIT(A)'s decision, confirming that the assessee's business had commenced during the assessment year, and the expenses incurred were revenue expenses. The ITAT noted that the AO's reliance on certain precedents was misplaced as the facts of the case indicated that the assessee had commenced its business activities. Consequently, the appeal by the Revenue was dismissed, affirming that the expenses should be allowed as business expenses under the head "revenue" and not capitalized. Case-Laws Income Tax Fri, 07 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209412