https://www.taxtmi.com/caselaws?id=271959 The Appellate Tribunal upheld the CIT(A)'s decision to allow the business expenditure claimed by the assessee for the relevant assessment year. The Tribunal determined that the business was set up since incorporation based on the activities undertaken by the company, allowing the claimed expenses and business loss. The Tribunal referenced legal precedents and a similar case involving the assessee's group company to support its decision, ultimately dismissing the Revenue's appeal and affirming the allowance of the business expenditure. en-us Fri, 15 Jan 2016 00:00:00 +0530 Tue, 23 Feb 2016 10:22:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271959 The Appellate Tribunal upheld the CIT(A)'s decision to allow the business expenditure claimed by the assessee for the relevant assessment year. The Tribunal determined that the business was set up since incorporation based on the activities undertaken by the company, allowing the claimed expenses and business loss. The Tribunal referenced legal precedents and a similar case involving the assessee's group company to support its decision, ultimately dismissing the Revenue's appeal and affirming the allowance of the business expenditure. Case-Laws Income Tax Fri, 15 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271959