https://www.taxtmi.com/caselaws?id=372884 The ITAT upheld the CIT(A)'s decision to delete the addition of expenses and depreciation for A.Y. 2010-11, citing the necessity for companies to incur such expenses even in the absence of active business. Relying on legal precedents like Tansy Investments Pyt Ltd. v. ACIT, the ITAT found no grounds for interference, affirming the allowance based on statutory obligations and operational readiness. The Revenue's appeal was dismissed, and the order favored the assessee against the revenue on 19.12.2018. en-us Wed, 19 Dec 2018 00:00:00 +0530 Wed, 02 Jan 2019 06:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372884 The ITAT upheld the CIT(A)'s decision to delete the addition of expenses and depreciation for A.Y. 2010-11, citing the necessity for companies to incur such expenses even in the absence of active business. Relying on legal precedents like Tansy Investments Pyt Ltd. v. ACIT, the ITAT found no grounds for interference, affirming the allowance based on statutory obligations and operational readiness. The Revenue's appeal was dismissed, and the order favored the assessee against the revenue on 19.12.2018. Case-Laws Income Tax Wed, 19 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372884