https://www.taxtmi.com/caselaws?id=267683 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the Assessing Officer, ruling that the expenses incurred by the assessee for business purposes, after the commencement of business with the acquisition of development rights, should be allowed as revenue expenditure. The Tribunal dismissed the department's appeal, citing legal precedents that distinguish between setting up and commencement of business, and holding that expenses post-setting up but pre-commencement are deductible. en-us Wed, 14 Oct 2015 00:00:00 +0530 Tue, 10 Nov 2015 21:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267683 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the Assessing Officer, ruling that the expenses incurred by the assessee for business purposes, after the commencement of business with the acquisition of development rights, should be allowed as revenue expenditure. The Tribunal dismissed the department's appeal, citing legal precedents that distinguish between setting up and commencement of business, and holding that expenses post-setting up but pre-commencement are deductible. Case-Laws Income Tax Wed, 14 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267683