Thursday, 22 August 2013

Business deemed to have commenced on commencement of one of the activities constituting business

IT : In order to determine as to whether assessee has commenced its business for purpose of allowing certain expenditure under head 'Business expenditure', it is not necessary that all activities which go to make up business should have been started rather it is sufficient if one among activities which constitute business is commenced which is first in point of time and which must necessarily precede all others


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