https://www.taxtmi.com/highlights?id=62813 Disallowance of expenditure claimed under the head "Business" - proof of commencement of business - the generation of actual business income was not an essential element to allow the business expenditure. - What is required to be seen is whether one of the essential activities for the carrying on of the business of the assessee company as a whole was or was not commenced. When a business is established and is ready to commence, then it can be said that business has been set-up. The business would be set-up when the necessary infrastructure was acquired by the assessee and the assessee started paying salaries and allowance of the experts. - AT en-us Thu, 07 Apr 2022 10:24:52 +0530 Thu, 07 Apr 2022 10:24:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62813 Disallowance of expenditure claimed under the head "Business" - proof of commencement of business - the generation of actual business income was not an essential element to allow the business expenditure. - What is required to be seen is whether one of the essential activities for the carrying on of the business of the assessee company as a whole was or was not commenced. When a business is established and is ready to commence, then it can be said that business has been set-up. The business would be set-up when the necessary infrastructure was acquired by the assessee and the assessee started paying salaries and allowance of the experts. - AT Highlights Income Tax Thu, 07 Apr 2022 10:24:52 +0530 https://www.taxtmi.com/highlights?id=62813