https://www.taxtmi.com/caselaws?id=366885 The Tribunal upheld the CIT(A)'s decision, allowing business expenses of Rs. 14,67,24,757 as the business was deemed set up, despite not generating income. Additionally, the disallowance under Section 14A of Rs. 14.13 Lacs was deleted due to the assessee's substantial share capital exceeding investments, leading to no interest disallowance. The Tribunal found no fault in the CIT(A)'s rulings and dismissed the Revenue's appeal on both grounds. en-us Fri, 07 Sep 2018 00:00:00 +0530 Wed, 12 Sep 2018 09:44:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366885 The Tribunal upheld the CIT(A)'s decision, allowing business expenses of Rs. 14,67,24,757 as the business was deemed set up, despite not generating income. Additionally, the disallowance under Section 14A of Rs. 14.13 Lacs was deleted due to the assessee's substantial share capital exceeding investments, leading to no interest disallowance. The Tribunal found no fault in the CIT(A)'s rulings and dismissed the Revenue's appeal on both grounds. Case-Laws Income Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366885