https://www.taxtmi.com/caselaws?id=271636 The Tribunal allowed the appeal of the assessee in a tax matter, setting aside the lower authorities' orders. It concluded that the business was considered set up at the start of the financial year due to the presence of necessary infrastructure and approvals, making the expenses incurred allowable. Key issues involved disallowed expenses like legal, professional, salary, and software expenses, which were deemed necessary for the company's operations. The Tribunal found these expenses to be revenue in nature and thus allowable, overturning the disallowances made by the Assessing Officer. en-us Tue, 22 Dec 2015 00:00:00 +0530 Thu, 11 Feb 2016 01:12:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271636 The Tribunal allowed the appeal of the assessee in a tax matter, setting aside the lower authorities' orders. It concluded that the business was considered set up at the start of the financial year due to the presence of necessary infrastructure and approvals, making the expenses incurred allowable. Key issues involved disallowed expenses like legal, professional, salary, and software expenses, which were deemed necessary for the company's operations. The Tribunal found these expenses to be revenue in nature and thus allowable, overturning the disallowances made by the Assessing Officer. Case-Laws Income Tax Tue, 22 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271636