https://www.taxtmi.com/caselaws?id=360527 The High Court upheld the decision of the Revenue authorities and the Tribunal, dismissing the Tax Appeal. The Court found that the evidence presented by the assessee, including market surveys and correspondence, did not sufficiently demonstrate the commencement of business activities claimed for the assessment year 2011-12. The Court noted significant time gaps between initial inquiries and actual transactions, indicating a lack of active business engagement. Despite the assessee's reliance on Delhi High Court judgments, the Court distinguished the present case based on factual disparities and ruled against allowing the claimed business expenditure. en-us Mon, 26 Feb 2018 00:00:00 +0530 Fri, 18 May 2018 09:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360527 The High Court upheld the decision of the Revenue authorities and the Tribunal, dismissing the Tax Appeal. The Court found that the evidence presented by the assessee, including market surveys and correspondence, did not sufficiently demonstrate the commencement of business activities claimed for the assessment year 2011-12. The Court noted significant time gaps between initial inquiries and actual transactions, indicating a lack of active business engagement. Despite the assessee's reliance on Delhi High Court judgments, the Court distinguished the present case based on factual disparities and ruled against allowing the claimed business expenditure. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360527