https://www.taxtmi.com/caselaws?id=365442 The Tribunal allowed the appeal by directing the Assessing Officer to net off the interest income against pre-operative expenses. The Tribunal considered the interest earned from temporary investments of funds raised for the project as inextricably linked to the project, citing relevant case law. The Tribunal did not address whether the business was set up or if the expenses were deductible as revenue expenditure, leaving these matters unresolved. en-us Wed, 18 Jul 2018 00:00:00 +0530 Thu, 16 Aug 2018 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365442 The Tribunal allowed the appeal by directing the Assessing Officer to net off the interest income against pre-operative expenses. The Tribunal considered the interest earned from temporary investments of funds raised for the project as inextricably linked to the project, citing relevant case law. The Tribunal did not address whether the business was set up or if the expenses were deductible as revenue expenditure, leaving these matters unresolved. Case-Laws Income Tax Wed, 18 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365442