https://www.taxtmi.com/caselaws?id=11943 The court determined that quarrying limestone alone did not constitute setting up a cement manufacturing business. As there was no evidence of the plant and machinery being set up or commissioned, the tribunal erred in concluding that the business had commenced. The court clarified that for claiming deductions, it is sufficient if the business is set up and ready to function as a manufacturing organization. Ultimately, the court ruled in favor of the Revenue, holding that the business was not set up during the relevant accounting year. en-us Fri, 14 Feb 2003 00:00:00 +0530 Sat, 13 Feb 2010 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11943 The court determined that quarrying limestone alone did not constitute setting up a cement manufacturing business. As there was no evidence of the plant and machinery being set up or commissioned, the tribunal erred in concluding that the business had commenced. The court clarified that for claiming deductions, it is sufficient if the business is set up and ready to function as a manufacturing organization. Ultimately, the court ruled in favor of the Revenue, holding that the business was not set up during the relevant accounting year. Case-Laws Income Tax Fri, 14 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11943