https://www.taxtmi.com/caselaws?id=37515 The High Court of Bombay upheld the decision disallowing the deduction of a sum of Rs. 92,400 in computing the income of a company for the assessment year 1962-63. The court found that the company had not set up its business of producing tools when it incurred the expenditure, therefore, the deduction was disallowed. The decision of the Tribunal was affirmed, ruling in favor of the Commissioner. en-us Wed, 31 Jan 1979 00:00:00 +0530 Tue, 30 Mar 2010 12:30:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37515 The High Court of Bombay upheld the decision disallowing the deduction of a sum of Rs. 92,400 in computing the income of a company for the assessment year 1962-63. The court found that the company had not set up its business of producing tools when it incurred the expenditure, therefore, the deduction was disallowed. The decision of the Tribunal was affirmed, ruling in favor of the Commissioner. Case-Laws Income Tax Wed, 31 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37515