Disallowance of business expenditure due to temporary discontinuation of business unsustainable

M/s. Mula Pravara Electric Co-op. Society Ltd. Vs DCIT (ITAT Pune)

Conclusion –

As intention of assessee to continue the business was clear, business expenditure including, depreciation as claimed by the assessee could not be disallowed due to temporary restrictions.

Facts –

Assessee is engaged in the business of distribution of electricity since 20 years, however, on expiry of licence on 31.01.2011, the licence was issued to MSEDCL and t

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