https://www.taxtmi.com/caselaws?id=8789 Whether quarrying and extracting limestone amounted to commencement of business for tax deductibility of expenses and allowances was considered; the extraction activity itself was held to constitute commencement of business, a factual finding not set aside for legal error, and therefore expenditure on extraction together with depreciation and development rebate for machinery used in extraction were deductible in computing trading profits for the relevant assessment years. A secondary question was rendered unnecessary by this conclusion. en-us Thu, 17 Aug 1972 00:00:00 +0530 Tue, 20 Jan 2026 18:04:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8789 Whether quarrying and extracting limestone amounted to commencement of business for tax deductibility of expenses and allowances was considered; the extraction activity itself was held to constitute commencement of business, a factual finding not set aside for legal error, and therefore expenditure on extraction together with depreciation and development rebate for machinery used in extraction were deductible in computing trading profits for the relevant assessment years. A secondary question was rendered unnecessary by this conclusion. Case-Laws Income Tax Thu, 17 Aug 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8789