https://www.taxtmi.com/caselaws?id=389194 The Tribunal ruled in favor of the assessee, holding that the business had commenced during the relevant assessment year based on investments aligning with its business objectives. The expenses disallowed by the Assessing Officer were allowed, and the income from interest was treated as other income. The Tribunal rejected the Department's argument that the investment activity was not related to the primary business, concluding that the assessee had indeed commenced its business. en-us Wed, 13 Nov 2019 00:00:00 +0530 Tue, 03 Dec 2019 11:19:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389194 The Tribunal ruled in favor of the assessee, holding that the business had commenced during the relevant assessment year based on investments aligning with its business objectives. The expenses disallowed by the Assessing Officer were allowed, and the income from interest was treated as other income. The Tribunal rejected the Department's argument that the investment activity was not related to the primary business, concluding that the assessee had indeed commenced its business. Case-Laws Income Tax Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389194