https://www.taxtmi.com/caselaws?id=371287 The Tribunal found that the assessee's business was "set up" during the relevant previous year, allowing the assessee to claim revenue expenses as deductions. The Tribunal emphasized that essential activities had commenced, such as earning commission income, directors' travel for business opportunities, and leasing premises for manufacturing. Consequently, the Tribunal directed the Assessing Officer to allow the deductions claimed by the assessee, resulting in the appeal being allowed in favor of the assessee. en-us Wed, 03 Oct 2018 00:00:00 +0530 Sat, 01 Dec 2018 12:42:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371287 The Tribunal found that the assessee's business was "set up" during the relevant previous year, allowing the assessee to claim revenue expenses as deductions. The Tribunal emphasized that essential activities had commenced, such as earning commission income, directors' travel for business opportunities, and leasing premises for manufacturing. Consequently, the Tribunal directed the Assessing Officer to allow the deductions claimed by the assessee, resulting in the appeal being allowed in favor of the assessee. Case-Laws Income Tax Wed, 03 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371287