https://www.taxtmi.com/caselaws?id=211831 The High Court upheld the Tribunal's decision to allow the business expenditure claimed by the assessee, ruling that the business had been set up during the relevant assessment year. The expenses incurred were deemed revenue expenditures as once a business is established, all subsequent expenses are considered revenue in nature. The Court dismissed the Revenue's appeals, emphasizing the consistency of the Tribunal's decision with legal principles and supporting evidence, including the company's collaboration with Adani Port Limited and involvement in port development activities. en-us Tue, 31 Jan 2012 00:00:00 +0530 Wed, 04 Apr 2012 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211831 The High Court upheld the Tribunal's decision to allow the business expenditure claimed by the assessee, ruling that the business had been set up during the relevant assessment year. The expenses incurred were deemed revenue expenditures as once a business is established, all subsequent expenses are considered revenue in nature. The Court dismissed the Revenue's appeals, emphasizing the consistency of the Tribunal's decision with legal principles and supporting evidence, including the company's collaboration with Adani Port Limited and involvement in port development activities. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211831