2009 (2) TMI 482

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..... ANDRAN NAIR C. N., SURENDRA MOHAN K., JJ JUDGMENT C. N. Ramachandran Nair J.- 1. Heard counsel for the appellant and standing counsel for the respondent. The appellant assessee, a jewelers, started business at Mettupalayam and in the course of time they opened two branches, one at Pollachi and another at Areacode. The initial expenditure for commencement of business in the branches and .....

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..... appellant submitted that when the branch is closed, the unabsorbed expenditure carried over should be allowed in the year of closure. Standing counsel opposed this stating that the Tribunal's order is to allow expenditure in terms of the accounting practice followed by the assessee. We are unable to accept the claim of the assessee because there is no provision in the Act to claim the entire expen .....

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