Business Expenses Deductible Only After Setup Date; Pre-establishment Costs Not Deductible, Court Rules.

Business Expenses Deductible Only After Setup Date; Pre-establishment Costs Not Deductible, Court Rules. https://www.taxtmi.com/highlights?id=22750 Disallowance of businesses expenditure - previous year begins from the date of setting up of the business. Therefore, it is only after the business is set up that the previous year of that business commences and in that previous year the expenses incurred in the business can be claimed as permissible deductions. - HC en-us Thu, 30 Apr 2015 07:07:38 +0530 Thu, 30 Apr 2015 07:07:38 +0530 TaxTMI RSS Generator Business Expenses Deductible Only After Setup Date; Pre-establishment Costs Not Deductible, Court Rules. https://www.taxtmi.com/highlights?id=22750 Disallowance of businesses expenditure - previous year begins from the date of setting up of the business. Therefore, it is only after the business is set up that the previous year of that business commences and in that previous year the expenses incurred in the business can be claimed as permissible deductions. - HC Highlights Income Tax Thu, 30 Apr 2015 07:07:38 +0530 https://www.taxtmi.com/highlights?id=22750