Court held that once the business is setup the assessee is entitle to deduction of operating expenses, financial expenses and depreciation. Court also held that when there was no dispute with regard to the date on which the assessee had set up its business. The Tribunal had no jurisdiction to unsettle the finding of the date on which the business of the assessee was set up. (AY. 2010-11)
Daimler India Commercial Vehicles P. Ltd. v. DCIT (2019) 416 ITR 343/183 DTR 92/ (2020) 313 CTR 44 (Mad.)(HC)
S. 37(1) : Business expenditure-Setting up of business and starting commercial activities-Commencement of research and development and construction of factory-Business is set up- Entitled to deduction of operating expenses, financial expenses and depreciation-Appellate Tribunal-Power. [S. 28(i), 32, 254(1)]