https://www.taxtmi.com/caselaws?id=269313 The tribunal allowed the appellant's appeal against the disallowance of business expenditure and set off against interest income for the assessment year 2008-09. Emphasizing the readiness to conduct business activities as distinct from actual income earned, the tribunal deemed the expenses allowable as the business was set up during the year. Contrary to the AO's decision, the tribunal directed the allowance of the claimed expenses of &8377; 2,69,275. The appellant's revised ground was partly allowed, overturning the disallowance and highlighting the distinction between setting up and commencement of business. en-us Fri, 28 Aug 2015 00:00:00 +0530 Sat, 12 Dec 2015 13:07:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269313 The tribunal allowed the appellant's appeal against the disallowance of business expenditure and set off against interest income for the assessment year 2008-09. Emphasizing the readiness to conduct business activities as distinct from actual income earned, the tribunal deemed the expenses allowable as the business was set up during the year. Contrary to the AO's decision, the tribunal directed the allowance of the claimed expenses of &8377; 2,69,275. The appellant's revised ground was partly allowed, overturning the disallowance and highlighting the distinction between setting up and commencement of business. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269313