https://www.taxtmi.com/caselaws?id=15293 The Tribunal ruled in favor of the assessee, a private electric company, in a case involving the interpretation of business activities post-acquisition by the State Government. The Tribunal held that the assessee was carrying on business and was entitled to deductions claimed. It found the expenses incurred during pending legal proceedings to be connected to the business of supplying electricity, with the intention to resume operations if the relevant Act was invalidated. The Tribunal allowed the expenses as deductions and determined that there was no discontinuation of business by the assessee-company. en-us Tue, 10 Nov 1998 00:00:00 +0530 Tue, 04 Aug 2009 14:12:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15293 The Tribunal ruled in favor of the assessee, a private electric company, in a case involving the interpretation of business activities post-acquisition by the State Government. The Tribunal held that the assessee was carrying on business and was entitled to deductions claimed. It found the expenses incurred during pending legal proceedings to be connected to the business of supplying electricity, with the intention to resume operations if the relevant Act was invalidated. The Tribunal allowed the expenses as deductions and determined that there was no discontinuation of business by the assessee-company. Case-Laws Income Tax Tue, 10 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15293