https://www.taxtmi.com/caselaws?id=262442 The Tribunal allowed the appeal of the assessee, directing the assessing officer to re-examine the expenditure claims for the assessment year 2007-08. The Tribunal emphasized that expenses incurred after setting up the business are allowable as revenue expenditure and determined that the business was operational before the incorporation date based on recruitment of employees and initiation of projects. The assessing officer was instructed to reassess the expenditure claims and the applicability of relevant provisions, overturning the decision of the appellate authority. en-us Fri, 09 Jan 2015 00:00:00 +0530 Tue, 11 Aug 2015 07:40:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262442 The Tribunal allowed the appeal of the assessee, directing the assessing officer to re-examine the expenditure claims for the assessment year 2007-08. The Tribunal emphasized that expenses incurred after setting up the business are allowable as revenue expenditure and determined that the business was operational before the incorporation date based on recruitment of employees and initiation of projects. The assessing officer was instructed to reassess the expenditure claims and the applicability of relevant provisions, overturning the decision of the appellate authority. Case-Laws Income Tax Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262442