Real estate business can claim expenses from land purchase as business initiation, even without revenue generation.

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....Disallowing claim of expenditure - non-carrying of business activity during the year under reference - The case involved an appeal by an assessee against the disallowance of expenditure claimed during the assessment year due to the absence of revenue generation. The assessee, engaged in real estate business, argued that it had commenced its business by purchasing land, which was reflected in its balance sheet. The ITAT, relying on relevant precedent, concluded that the acquisition of land marked the initiation of business operations, irrespective of revenue generation during the assessment year. Consequently, the Tribunal allowed the appeal, affirming the allowability of the claimed expenditure.....