https://www.taxtmi.com/caselaws?id=416431 The Tribunal allowed the appeal filed by the assessee, overturning the decisions of the lower authorities. It ruled in favor of allowing the business loss claim amounting to Rs. 26,59,169 for the relevant assessment year 2013-14. The Tribunal found that the assessee had commenced their business activities by setting up the company, obtaining necessary permissions, and making advance payments for raw materials, despite the delay in receiving the raw material. en-us Wed, 17 Nov 2021 00:00:00 +0530 Wed, 29 Dec 2021 08:45:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416431 The Tribunal allowed the appeal filed by the assessee, overturning the decisions of the lower authorities. It ruled in favor of allowing the business loss claim amounting to Rs. 26,59,169 for the relevant assessment year 2013-14. The Tribunal found that the assessee had commenced their business activities by setting up the company, obtaining necessary permissions, and making advance payments for raw materials, despite the delay in receiving the raw material. Case-Laws Income Tax Wed, 17 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416431