https://www.taxtmi.com/caselaws?id=420670 ITAT held for the taxpayer that business expenditure was allowable because the business had been set up during the relevant year despite actual commercial production not yet commencing. The tribunal found procurement of land, recruitment of technical staff, necessary approvals, purchase orders and long-term power purchase agreements demonstrated establishment of the enterprise; lengthy gestation in that industry made delayed revenue generation inevitable. The AO's focus on synchronization date and absence of income was rejected; disallowance was overturned and deductions allowed. en-us Fri, 01 Apr 2022 00:00:00 +0530 Sat, 23 Aug 2025 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420670 ITAT held for the taxpayer that business expenditure was allowable because the business had been set up during the relevant year despite actual commercial production not yet commencing. The tribunal found procurement of land, recruitment of technical staff, necessary approvals, purchase orders and long-term power purchase agreements demonstrated establishment of the enterprise; lengthy gestation in that industry made delayed revenue generation inevitable. The AO's focus on synchronization date and absence of income was rejected; disallowance was overturned and deductions allowed. Case-Laws Income Tax Fri, 01 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420670