https://www.taxtmi.com/caselaws?id=399674 Expenditure on office, administrative and project-related costs was deductible where the real estate business had been set up and was ready to commence, even though no business income had yet been earned. Obtaining the commencement certificate, securing the sanctioned plan, and entering into a project management agreement showed that the business had moved beyond mere preparation. The costs could not be disallowed solely because the project had not generated income, and the disallowance was therefore not sustainable. en-us Thu, 10 Sep 2020 00:00:00 +0530 Fri, 16 Oct 2020 12:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399674 Expenditure on office, administrative and project-related costs was deductible where the real estate business had been set up and was ready to commence, even though no business income had yet been earned. Obtaining the commencement certificate, securing the sanctioned plan, and entering into a project management agreement showed that the business had moved beyond mere preparation. The costs could not be disallowed solely because the project had not generated income, and the disallowance was therefore not sustainable. Case-Laws Income Tax Thu, 10 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399674