https://www.taxtmi.com/caselaws?id=70389 A business may be treated as commenced when its essential marketing activity begins, even if no actual purchases or sales have yet occurred. On that basis, expenditure incurred for the tephguard agency activity was allowable as revenue expenditure because the assessee had already entered the agency arrangement, issued advertisements, and started booking orders in advance. A limited disallowance was also sustained where part of the clearing charges had been incurred on behalf of the principal and the remaining expenses were not fully verifiable. The Tribunal therefore sustained allowance of the commenced business expenditure while maintaining the partial disallowance. en-us Thu, 18 May 1989 00:00:00 +0530 Fri, 15 Apr 2011 18:37:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70389 A business may be treated as commenced when its essential marketing activity begins, even if no actual purchases or sales have yet occurred. On that basis, expenditure incurred for the tephguard agency activity was allowable as revenue expenditure because the assessee had already entered the agency arrangement, issued advertisements, and started booking orders in advance. A limited disallowance was also sustained where part of the clearing charges had been incurred on behalf of the principal and the remaining expenses were not fully verifiable. The Tribunal therefore sustained allowance of the commenced business expenditure while maintaining the partial disallowance. Case-Laws Income Tax Thu, 18 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70389