https://www.taxtmi.com/caselaws?id=20020 The High Court of Bombay ruled that the hotel business was not established by the assessee before October 1972 as the hotel building was incomplete during the relevant period. Consequently, the claimed expenditure of Rs. 3,96,431 could not be considered as business expenditure. The court emphasized the importance of readiness to commence production in determining the establishment of a business. The decision favored the Revenue, and no costs were awarded. en-us Fri, 01 Oct 1993 00:00:00 +0530 Wed, 11 Nov 2009 11:43:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20020 The High Court of Bombay ruled that the hotel business was not established by the assessee before October 1972 as the hotel building was incomplete during the relevant period. Consequently, the claimed expenditure of Rs. 3,96,431 could not be considered as business expenditure. The court emphasized the importance of readiness to commence production in determining the establishment of a business. The decision favored the Revenue, and no costs were awarded. Case-Laws Income Tax Fri, 01 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20020