https://www.taxtmi.com/caselaws?id=352776 The Appellate Tribunal dismissed the assessee's appeal, upholding the disallowances of interest on borrowed capital, fund raising charges, and business expenditure due to the lack of commencement of business activity. The Tribunal found that as there was no substantial business operations during the relevant period, the expenses could not be claimed under the respective sections. Therefore, the Tribunal rejected the grounds raised by the assessee on these issues. en-us Wed, 29 Nov 2017 00:00:00 +0530 Thu, 21 Dec 2017 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352776 The Appellate Tribunal dismissed the assessee's appeal, upholding the disallowances of interest on borrowed capital, fund raising charges, and business expenditure due to the lack of commencement of business activity. The Tribunal found that as there was no substantial business operations during the relevant period, the expenses could not be claimed under the respective sections. Therefore, the Tribunal rejected the grounds raised by the assessee on these issues. Case-Laws Income Tax Wed, 29 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352776