https://www.taxtmi.com/highlights?id=72222 Claim of expenditure u/s 37(1) even if there is no corresponding income / revenue - The tax authorities have also taken a view that the assessee has not shown any sales in the books of account. It is well settled proposition of law that, once the assessee has set up his business, all revenue expenses are allowable as deduction irrespective of the receipt of income. - AT en-us Tue, 26 Sep 2023 15:42:38 +0530 Wed, 27 Sep 2023 10:32:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72222 Claim of expenditure u/s 37(1) even if there is no corresponding income / revenue - The tax authorities have also taken a view that the assessee has not shown any sales in the books of account. It is well settled proposition of law that, once the assessee has set up his business, all revenue expenses are allowable as deduction irrespective of the receipt of income. - AT Highlights Income Tax Tue, 26 Sep 2023 15:42:38 +0530 https://www.taxtmi.com/highlights?id=72222