https://www.taxtmi.com/caselaws?id=5340 A business is treated as commenced when the assessee undertakes substantial commercial activities that form part of the business itself, and not only when a tenant or licensee actually occupies the premises or starts paying rent. Here, the assessee had gone beyond mere acquisition of property by finding a customer, carrying out repairs, rewiring, installing a lift, and adapting the premises for business and storage use. The Tribunal's contrary view rested on a misapprehension of the nature of the business and was vitiated by misdirection in law. The High Court was therefore justified in interfering, and the appeal was dismissed. en-us Wed, 28 Aug 1991 00:00:00 +0530 Sat, 25 Oct 2025 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5340 A business is treated as commenced when the assessee undertakes substantial commercial activities that form part of the business itself, and not only when a tenant or licensee actually occupies the premises or starts paying rent. Here, the assessee had gone beyond mere acquisition of property by finding a customer, carrying out repairs, rewiring, installing a lift, and adapting the premises for business and storage use. The Tribunal's contrary view rested on a misapprehension of the nature of the business and was vitiated by misdirection in law. The High Court was therefore justified in interfering, and the appeal was dismissed. Case-Laws Income Tax Wed, 28 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5340