ALD Automotive (P.) Ltd. v. Dy. CIT (2018) 254 Taxman 233 (Bom.)(HC)

S. 37(1) : Business expenditure – Expenses incurred prior to setting up of business is held to be not allowable as business loss [ S.28(i) ]

Dismissing the appeal of the assessee the Court held that ; since assessee failed to produce necessary evidence in support of its claim that business was set up and it was ready to commence, expenditure incurred by assessee prior to setting up of business could not be allowed.(AY. 2005-06)