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No disallowance of exp. on closure of business if assessee had intention to resume it after license renewal

November 2, 2018[2018] 98 taxmann.com 419 (Pune - Trib.)
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IT: Where licence of assessee-company was not renewed and claim of assessee for deduction of several expenditure was disallowed on ground that business of assessee was closed down, since assessee had not sold or leased out its infrastructure and it was determined to fight out for renewal of licence, it could be said that assessee had intention to resume, its business, thus, business could not be held discontinued one and, consequently, expenses claimed by assessee were to be allowed

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