https://www.taxtmi.com/caselaws?id=251767 The High Court ruled in favor of the assessee, holding that the business was set up during the relevant year, and the expenses incurred were deductible. The Court set aside the Tribunal's order and allowed the appeal, emphasizing that the preparatory activities undertaken by the assessee, such as renting office space, hiring personnel, and engaging with suppliers, were sufficient to establish that the business was set up, even though actual trading had not commenced. en-us Mon, 22 Sep 2014 00:00:00 +0530 Thu, 19 Feb 2015 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251767 The High Court ruled in favor of the assessee, holding that the business was set up during the relevant year, and the expenses incurred were deductible. The Court set aside the Tribunal's order and allowed the appeal, emphasizing that the preparatory activities undertaken by the assessee, such as renting office space, hiring personnel, and engaging with suppliers, were sufficient to establish that the business was set up, even though actual trading had not commenced. Case-Laws Income Tax Mon, 22 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251767