https://www.taxtmi.com/caselaws?id=361859 The Tribunal upheld the decision of the Ld.CIT(A) regarding the addition under section 28(iii c) of the Income Tax Act, 1961, for the Assessment Year 2011-12. It distinguished between setting up a business and commencement of commercial operation, emphasizing that assessing income does not apply until the business is established. The Tribunal found the Ld.CIT(A)'s order valid, in line with previous rulings, and dismissed the Revenue's appeal. The decision was based on legal definitions and precedents, leading to the rejection of the Revenue's grounds and the affirmation of the Ld.CIT(A)'s decision. en-us Thu, 07 Jun 2018 00:00:00 +0530 Fri, 15 Jun 2018 07:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361859 The Tribunal upheld the decision of the Ld.CIT(A) regarding the addition under section 28(iii c) of the Income Tax Act, 1961, for the Assessment Year 2011-12. It distinguished between setting up a business and commencement of commercial operation, emphasizing that assessing income does not apply until the business is established. The Tribunal found the Ld.CIT(A)'s order valid, in line with previous rulings, and dismissed the Revenue's appeal. The decision was based on legal definitions and precedents, leading to the rejection of the Revenue's grounds and the affirmation of the Ld.CIT(A)'s decision. Case-Laws Income Tax Thu, 07 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361859