https://www.taxtmi.com/caselaws?id=328822 The Tribunal upheld the decision to disallow professional fees paid to BMR Advisors Pvt. Ltd., determining the expenses were pre-operative and preparatory for a new business venture not yet commenced. The services provided were deemed unrelated to the existing business activities of the assessee company, thus not allowable as revenue expenditure. The Tribunal's dismissal of the appeal implicitly supported the levy of interest under sections 234B and 234C, as the disallowed expenses impacted the taxable income computation. en-us Mon, 13 Jun 2016 00:00:00 +0530 Sat, 16 Jul 2016 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328822 The Tribunal upheld the decision to disallow professional fees paid to BMR Advisors Pvt. Ltd., determining the expenses were pre-operative and preparatory for a new business venture not yet commenced. The services provided were deemed unrelated to the existing business activities of the assessee company, thus not allowable as revenue expenditure. The Tribunal's dismissal of the appeal implicitly supported the levy of interest under sections 234B and 234C, as the disallowed expenses impacted the taxable income computation. Case-Laws Income Tax Mon, 13 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328822