https://www.taxtmi.com/caselaws?id=273130 The Tribunal overturned the CIT(A)'s decision to disallow expenditure of Rs. 12,55,869, holding that expenses necessary for maintaining the company's existence should be allowed as deductions, even if no business activities were conducted during the year. The Tribunal emphasized that the absence of business operations in a particular year does not imply the cessation of business, citing relevant case law. Consequently, the disallowance was deemed unjustified, and the appeal was allowed on 24th November 2010. en-us Wed, 24 Nov 2010 00:00:00 +0530 Thu, 07 Jun 2018 10:07:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273130 The Tribunal overturned the CIT(A)'s decision to disallow expenditure of Rs. 12,55,869, holding that expenses necessary for maintaining the company's existence should be allowed as deductions, even if no business activities were conducted during the year. The Tribunal emphasized that the absence of business operations in a particular year does not imply the cessation of business, citing relevant case law. Consequently, the disallowance was deemed unjustified, and the appeal was allowed on 24th November 2010. Case-Laws Income Tax Wed, 24 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273130