https://www.taxtmi.com/caselaws?id=259102 The Court upheld the ITAT's ruling that the business was set up and had commenced in the preceding year. It emphasized the difference between setting up a business and the actual commencement of income-generating activities. The judgment clarified that business initiation occurs when activities are ready to start, not necessarily when revenue is generated, and found no legal grounds to intervene in the ITAT's decision. en-us Thu, 23 Apr 2015 00:00:00 +0530 Thu, 30 Apr 2015 07:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259102 The Court upheld the ITAT's ruling that the business was set up and had commenced in the preceding year. It emphasized the difference between setting up a business and the actual commencement of income-generating activities. The judgment clarified that business initiation occurs when activities are ready to start, not necessarily when revenue is generated, and found no legal grounds to intervene in the ITAT's decision. Case-Laws Income Tax Thu, 23 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259102