https://www.taxtmi.com/caselaws?id=12496 Expenditure incurred to procure materials and prepare for export was treated as allowable revenue expenditure even though no actual purchase or export had taken place. The Tribunal found that the assessee had obtained export orders, made advances for granite supply and processing, secured a lease for excavation, and was registered as an exporter. On those facts, the business was held to have been set up during the relevant year, so the expenses were incurred in the course of setting up and conducting the business. The question was answered in favour of the assessee. en-us Thu, 31 Jan 2002 00:00:00 +0530 Tue, 02 Mar 2010 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12496 Expenditure incurred to procure materials and prepare for export was treated as allowable revenue expenditure even though no actual purchase or export had taken place. The Tribunal found that the assessee had obtained export orders, made advances for granite supply and processing, secured a lease for excavation, and was registered as an exporter. On those facts, the business was held to have been set up during the relevant year, so the expenses were incurred in the course of setting up and conducting the business. The question was answered in favour of the assessee. Case-Laws Income Tax Thu, 31 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12496