https://www.taxtmi.com/caselaws?id=394050 The Tribunal upheld the disallowance of revenue expenditure claimed by the assessee, amounting to Rs. 2,33,36,067, as the business had not commenced during the assessment years. However, the Tribunal allowed the treatment of interest income earned from fixed deposits as a capital receipt, to be set off against pre-operative expenses. The appeals were partly allowed in favor of the assessee. en-us Fri, 06 Mar 2020 00:00:00 +0530 Mon, 30 Mar 2020 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394050 The Tribunal upheld the disallowance of revenue expenditure claimed by the assessee, amounting to Rs. 2,33,36,067, as the business had not commenced during the assessment years. However, the Tribunal allowed the treatment of interest income earned from fixed deposits as a capital receipt, to be set off against pre-operative expenses. The appeals were partly allowed in favor of the assessee. Case-Laws Income Tax Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394050