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Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Disallowance of Administrative and Other Expenses as ...


Court Allows Pre-Operative Expense Claims for Mineral Exploration; "Setting Up" Includes Preparatory Activities.

November 4, 2013

Case Laws     Income Tax     AT

Disallowance of Administrative and Other Expenses as pre-operative expenses – the assessee had successfully identified certain mineral rich blocks too - the expression 'setting up' means 'to place on foot' or to establish or 'to ready to commence' - claim allowed - AT

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