The existing export company had incurred expenditure to develop one manufacturing unit. Such expenditure like conveyance, courier, telephone , etc in this regard claimed as expenditure in main balance sheet. In the 2nd year, this unit is demerged as separate entity & sold off. The Assessing Officer require justifiable reason to claim the expenditure of manufacturing unit in the main balance sheet (Export).
Please provide me the reason & relevant case law.
CAclubindia
