https://www.taxtmi.com/caselaws?id=368390 The Tribunal dismissed the Revenue's appeal and allowed the Cross Objection by the assessee. It held that the reopening of the assessment under Section 148 of the IT Act was invalid as the Assessing Officer lacked tangible material. Furthermore, the Tribunal upheld that the assessee had commenced commercial activities, supporting the classification of expenses as revenue expenditure. en-us Wed, 03 Oct 2018 00:00:00 +0530 Mon, 08 Oct 2018 07:32:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368390 The Tribunal dismissed the Revenue's appeal and allowed the Cross Objection by the assessee. It held that the reopening of the assessment under Section 148 of the IT Act was invalid as the Assessing Officer lacked tangible material. Furthermore, the Tribunal upheld that the assessee had commenced commercial activities, supporting the classification of expenses as revenue expenditure. Case-Laws Income Tax Wed, 03 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368390