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“Section 86(1)(b)”

Section References (mined)Section 86Section 86(1)(b)1 judgments

The decision most relied on for Section 86(1)(b) is J. K. Woolen Mills v. CIT (86 ITR 11), cited in 33 judgments on BharatTax.

Leading authorities on Section 86(1)(b)

J. K. Woolen Mills v. CIT
86 ITR 11 · 1972 · Supreme Court
33
citing judgments

Business expenditure is deductible even if the business has not yet commenced, provided it is incurred for the purpose of setting up the business. The commercial expediency of a businessman's decision regarding payment quantum is generally respected.

Judgments citing Section 86(1)(b)

Aditya Birla Nuvo Ltd (Since Amalgamated With Grasim Industries Limited), Mumbai vs. DCIT CC-1(4) Earlier With ACIT(Ltu) 1, Mumbai

In the result, theappeals filed by the assessee and revenue are partly

ITA 563/MUM/2018[2013-14]Status: DisposedITAT Mumbai17 Nov 2025AY 2013-14

Bench: The Hon’Bleunder Section 255(4) Of The Act. The Points Of Difference Were Thereafter Referred To The Hon’Blefor Resolution. The Hon’Blehas Now Rendered His Detailed Opinion & The Appeals Have Been Placed Before Us To Pass The Consequential

Section 255(4)Section 80

terms of Section 42 of the Electricity Act, the commission shall determine only the wheeling charges and surcharge if any. He submitted, Section 86(1)(b) authorizes the state commission to regulate electricity purchase and procurement process of distribution license fees, including price at which electricity shall be procured from