https://www.taxtmi.com/caselaws?id=21588 The Court held that expenses incurred after the purchase of raw materials but before the start of production were allowable as revenue expenditure. The Tribunal found that the assessee had commenced business when raw materials were purchased, indicating a genuine intent to start production. The Court emphasized the factual determination of business commencement and upheld the deduction of expenses, stating that the purchase of raw materials demonstrated a genuine intent to commence business. The judgment favored the assessee, allowing the expenses as deductible revenue expenditure. en-us Tue, 24 Mar 1992 00:00:00 +0530 Wed, 25 Nov 2009 16:02:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21588 The Court held that expenses incurred after the purchase of raw materials but before the start of production were allowable as revenue expenditure. The Tribunal found that the assessee had commenced business when raw materials were purchased, indicating a genuine intent to start production. The Court emphasized the factual determination of business commencement and upheld the deduction of expenses, stating that the purchase of raw materials demonstrated a genuine intent to commence business. The judgment favored the assessee, allowing the expenses as deductible revenue expenditure. Case-Laws Income Tax Tue, 24 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21588