https://www.taxtmi.com/caselaws?id=294305 The High Court upheld the Tribunal's decision that the Assessee had not commenced business activity during the relevant previous year for the assessment year 1998-99. Despite arguments by the Assessee citing various indicators, the Court found that the only activity undertaken was a single transaction for registration purposes, with no substantial steps towards actual business operations. Emphasizing the requirement for being "set up" before commencement, the Court concluded that the Assessee was not prepared to start business activities. The appeal was dismissed as the Tribunal's decision, although debatable, did not warrant interference. en-us Wed, 25 Jul 2007 00:00:00 +0530 Mon, 05 Apr 2021 15:19:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294305 The High Court upheld the Tribunal's decision that the Assessee had not commenced business activity during the relevant previous year for the assessment year 1998-99. Despite arguments by the Assessee citing various indicators, the Court found that the only activity undertaken was a single transaction for registration purposes, with no substantial steps towards actual business operations. Emphasizing the requirement for being "set up" before commencement, the Court concluded that the Assessee was not prepared to start business activities. The appeal was dismissed as the Tribunal's decision, although debatable, did not warrant interference. Case-Laws Income Tax Wed, 25 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294305