https://www.taxtmi.com/caselaws?id=353499 The Court confirmed the CIT(A)'s decision that the appellant's business was set up during the relevant year, allowing deductions for certain expenses. However, some expenses were deemed capital in nature and required to be capitalized as part of the project cost. The AO was directed to compute the loss after making necessary disallowances, with the determined loss allowed to be carried forward. The appeal was dismissed, affirming the CIT(A)'s order. en-us Fri, 22 Dec 2017 00:00:00 +0530 Fri, 05 Jan 2018 09:26:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353499 The Court confirmed the CIT(A)'s decision that the appellant's business was set up during the relevant year, allowing deductions for certain expenses. However, some expenses were deemed capital in nature and required to be capitalized as part of the project cost. The AO was directed to compute the loss after making necessary disallowances, with the determined loss allowed to be carried forward. The appeal was dismissed, affirming the CIT(A)'s order. Case-Laws Income Tax Fri, 22 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353499