https://www.taxtmi.com/caselaws?id=119490 The Tribunal held that the hotel business commenced when revenue was generated, not at the formal inauguration date. It ruled that expenses incurred after the setup but before the commencement are deductible. Pre-inauguration expenses were allowed as revenue expenditure from the date revenue was generated. Depreciation on assets used for more than 180 days from the business setup date was permitted. The Tribunal allowed the appeal for statistical purposes, emphasizing the distinction between business setup and commencement, treatment of pre-inauguration expenses, and depreciation allowance. en-us Fri, 27 Apr 2007 00:00:00 +0530 Wed, 11 Jul 2012 13:34:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119490 The Tribunal held that the hotel business commenced when revenue was generated, not at the formal inauguration date. It ruled that expenses incurred after the setup but before the commencement are deductible. Pre-inauguration expenses were allowed as revenue expenditure from the date revenue was generated. Depreciation on assets used for more than 180 days from the business setup date was permitted. The Tribunal allowed the appeal for statistical purposes, emphasizing the distinction between business setup and commencement, treatment of pre-inauguration expenses, and depreciation allowance. Case-Laws Income Tax Fri, 27 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119490