https://www.taxtmi.com/caselaws?id=235177 The High Court upheld the Tribunal's decision allowing the assessee to claim and set off expenses incurred after the setting up of the business but before the commencement of commercial operations. The Court emphasized the distinction between the date of setting up and commencement of business, citing precedents. The Revenue's argument that pre-setup expenses were capital in nature was rejected, highlighting the importance of factual findings. The appeal was dismissed, stating no substantial question of law arose, and the Revenue's challenge was unsuccessful based on the Tribunal's factual determinations. en-us Tue, 09 Jul 2013 00:00:00 +0530 Sat, 20 Jun 2015 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235177 The High Court upheld the Tribunal's decision allowing the assessee to claim and set off expenses incurred after the setting up of the business but before the commencement of commercial operations. The Court emphasized the distinction between the date of setting up and commencement of business, citing precedents. The Revenue's argument that pre-setup expenses were capital in nature was rejected, highlighting the importance of factual findings. The appeal was dismissed, stating no substantial question of law arose, and the Revenue's challenge was unsuccessful based on the Tribunal's factual determinations. Case-Laws Income Tax Tue, 09 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235177