https://www.taxtmi.com/caselaws?id=432041 The ITAT partially allowed the appellant's appeal, emphasizing the deductibility of expenses incurred between setting up and commencing a new business. The court highlighted the necessity of establishing a connection between the expenditure and the business setup. The matter was remitted to the Assessing Officer for further review to ascertain if the expenses could be deducted and offset against interest income, aligning with existing legal precedents. en-us Mon, 07 Nov 2022 00:00:00 +0530 Mon, 23 Jan 2023 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432041 The ITAT partially allowed the appellant's appeal, emphasizing the deductibility of expenses incurred between setting up and commencing a new business. The court highlighted the necessity of establishing a connection between the expenditure and the business setup. The matter was remitted to the Assessing Officer for further review to ascertain if the expenses could be deducted and offset against interest income, aligning with existing legal precedents. Case-Laws Income Tax Mon, 07 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432041