https://www.taxtmi.com/caselaws?id=217257 The Tribunal ruled in favor of the assessee, determining that business activities had commenced despite the absence of immediate business income. It overturned the lower authorities' decisions, allowing the appeal and emphasizing that preparatory steps for business operations constitute business activities. The Tribunal held that expenses incurred for such activities are allowable, setting aside the disallowance of depreciation and administrative expenses. The appeal was allowed on 27/7/2012. en-us Fri, 27 Jul 2012 00:00:00 +0530 Tue, 11 Sep 2012 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217257 The Tribunal ruled in favor of the assessee, determining that business activities had commenced despite the absence of immediate business income. It overturned the lower authorities' decisions, allowing the appeal and emphasizing that preparatory steps for business operations constitute business activities. The Tribunal held that expenses incurred for such activities are allowable, setting aside the disallowance of depreciation and administrative expenses. The appeal was allowed on 27/7/2012. Case-Laws Income Tax Fri, 27 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217257