CIT v. ESPN Software India P. Ltd.

301 ITR 368High Court2008#2978 most cited

What is CIT v. ESPN Software India P. Ltd. authority for?

A business commences with the first purchase of stock-in-trade, and the date of the first sale is immaterial. For manufacturing, business commences with the first activity undertaken to produce finished products.

40

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2012 to 2024.

Also referred to as

CIT v. ESPN Software India P. Ltd. · commencement of business · first purchase of stock-in-trade · date of first sale · manufacturing · first activity

Also reported as

184 Taxmann 452
Read the full judgment

Issues it is cited on

section 2(11)section 10(2)section 57(iii)section 57revenue expendituresection 44absection 10income from other sourcesprevious yearassistant commissionerappeal before the tribunalcompany

Judgments citing CIT v. ESPN Software India P. Ltd.

M/S Sambhav Institutions (India) Private Limited, Bangalore vs. Income Tax Officer Ward-12(2), Bangalore

In the result, all the three appeals filed by the assessee are allowed for statistical purposes

ITA 1759/BANG/2018[2009-10]Status: DisposedITAT Bangalore31 Jul 2019AY 2009-10

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Siddesh Gaddi, CAFor Respondent: Dr. P.V. Pradeep Kumar, Addl. CIT (DR)
Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA Nos. 1758 to 1760/Bang/2018 Assessment Years : 2008-09 to 2010-11 M/s. Sambhav Institutions (INDIA) Pvt. Ltd., The Income Tax # 306, 3rd Floor, Montreal Manor Officer, Shopping Street, Serpentine Vs. Ward – 12 (2), Road, Kumara Park (West), Bangalore. Bangalore – 560 020. PAN: AAKCS3106L APPELLANT RESPONDENT Assessee by : Shri Siddesh Gaddi, CA Revenue by : Dr. P.V. Pradeep Kumar, Addl. CIT (DR) Date of hearing : 09.07.2019 Date of Pronouncement : 31.07.201…

M/S Sambhav Institutions (India) Private Limited, Bangalore vs. Income Tax Officer Ward-12(2), Bangalore

In the result, all the three appeals filed by the assessee are allowed for statistical purposes

ITA 1758/BANG/2018[2008-09]Status: DisposedITAT Bangalore31 Jul 2019AY 2008-09

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Siddesh Gaddi, CAFor Respondent: Dr. P.V. Pradeep Kumar, Addl. CIT (DR)
Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA Nos. 1758 to 1760/Bang/2018 Assessment Years : 2008-09 to 2010-11 M/s. Sambhav Institutions (INDIA) Pvt. Ltd., The Income Tax # 306, 3rd Floor, Montreal Manor Officer, Shopping Street, Serpentine Vs. Ward – 12 (2), Road, Kumara Park (West), Bangalore. Bangalore – 560 020. PAN: AAKCS3106L APPELLANT RESPONDENT Assessee by : Shri Siddesh Gaddi, CA Revenue by : Dr. P.V. Pradeep Kumar, Addl. CIT (DR) Date of hearing : 09.07.2019 Date of Pronouncement : 31.07.201…

ITO 2(1)(1), Mumbai vs. Quickjet Cargo Airlines P.Ltd, Mumbai

In the result, Revenue’s appeal stands dismissed

ITA 7461/MUM/2016[2009-10]Status: DisposedITAT Mumbai23 Apr 2019AY 2009-10

Bench: Shri Shamim Yahya & Shri Amarjit Singh & Assessment Year-2009-10

Section 143(3)Section 271(1)Section 271(1)(c)

…disallowance of some expenditure, which is not found ingenuine one. 3.3 In support of its contention, the AR has relied upon the following case laws:- 1) Western India Vegetable Products Ltd. v. CIT 26 ITR 151 (Born). 2) CI T v.ESPN Software India (P) Ltd. 301 ITR 368 Delhi High Court . 3) CIT v. Reliance Petroproducts Pvt. Ltd. 322 ITR 158 4) CIT v. Nalin P. Shah ITA No. 48 3013 (Born) Further in paper book two, the assessee has submitted the statement of profile of technical staff, details of pilot training expenses and training of its staff members. Thus, it is argued that the Id.A0 has wrongly levied pena…

DCIT, New Delhi vs. M/S. Albasta Wholesale Services Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6546/DEL/2015[2011-12]Status: DisposedITAT Delhi04 Feb 2019AY 2011-12

Bench: Shri Before Shri G.D. Agrawal, Before Shri Before Shri G.D. Agrawal, G.D. Agrawal, Vice G.D. Agrawal, Vice & And & Ms. Suchitra Kamble Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble

For Appellant: Ms. Paramita M. Biswas, CIT-DRFor Respondent: Shri Gautam Jain, Advocate &
Section 14Section 28Section 37

…ffect from 23rd July, 2008, there would be no justification for holding in the year under consideration that no business was commenced. He has also relied upon the following decisions in support of his claim :- (i) CIT Vs. ESPN Software India P.Ltd. – [2008] 301 ITR 368 (Del). (ii) CIT Vs. Dhoomketu Builders and Development P.Ltd. – [2014] 368 ITR 680 (Del). 5. He further stated that the assessee company made investment in one subsidiary company known as M/s Galactic Ventures Limited (hereinafter referred to as ‘GVL’) of 10,00,00,000 Dollars on 22nd December, 2008. As per the prevailing rate of Dollar in Rupee…

ACIT, Circle - 5(2), Kolkata vs. M/S. Thiess Mines India Pvt. Ltd., Kolkata

In the result, this issue is adjudicated in favour of the assessee

ITA 485/KOL/2018[2013-14]Status: DisposedITAT Kolkata09 Jan 2019AY 2013-14

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 250

…man 166 (Delhi), it has been observed that the date of setting up of business and date of commencement of business may be two separate dates. This decision in the case of L.G. Electronics(supra) has been followed in CIT v. ESPN Software India (P.) Ltd. [2008] 301 ITR 368/[2009] 184 Taxman 452 (Delhi) wherein it has been held that a business will "commence" with the first purchase of stock-in-trade and the date on which the first sale is made is immaterial. Similarly, for manufacturing, several activities in order to bring or produce finished products have to be undertaken, but business commences when the first of…

ACIT, Circle-5(2), Kolkata vs. M/S Thiess Mines India Pvt. Ltd., Kolkata

In the result, this issue is adjudicated in favour of the assessee

ITA 2163/KOL/2016[2012-13]Status: DisposedITAT Kolkata09 Jan 2019AY 2012-13

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 250

…man 166 (Delhi), it has been observed that the date of setting up of business and date of commencement of business may be two separate dates. This decision in the case of L.G. Electronics(supra) has been followed in CIT v. ESPN Software India (P.) Ltd. [2008] 301 ITR 368/[2009] 184 Taxman 452 (Delhi) wherein it has been held that a business will "commence" with the first purchase of stock-in-trade and the date on which the first sale is made is immaterial. Similarly, for manufacturing, several activities in order to bring or produce finished products have to be undertaken, but business commences when the first of…

Hipl India Private Limited, Bangalore vs. Assistant Commissioner of Income Tax Circle-3(1)(2), Bangalore

In the result, the appeal by the assessee is allowed

ITA 2149/BANG/2018[2015-16]Status: DisposedITAT Bangalore03 Oct 2018AY 2015-16

Bench: Shri N.V. Vasudevanassessment Year : 2015-16

For Appellant: Shri K.P. Srinivas, CAFor Respondent: Shri Rajendra Chandekar, Jt.CIT(DR)(ITAT), Bengaluru
Section 37

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC – C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, JUDICIAL MEMBER Assessment year : 2015-16 HIPL India Private Ltd., Vs. The Assistant Commissioner of No.2145/866, Toyota Kirloskar Income Tax, Motor Co. Road, Banandhur, Circle 3(1)(2), Medanahalli Village, Bidadi, Bangalore. Ramanagar, Bangalore – 562 109. PAN: AADCH 4720L APPELLANT RESPONDENT Appellant by : Shri K.P. Srinivas, CA Respondent by : Shri Rajendra Chandekar, Jt.CIT(DR)(ITAT), Bengaluru. Date of hearing : 21.08.2018 Date of Pronouncement : 03.10.2018 O R D E R This appeal by the assessee is against the…

ACIT, New Delhi vs. M/S. Lodhi Property Company Ltd., New Delhi

In the result, appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 4970/DEL/2011[2007-08]Status: DisposedITAT Delhi26 Feb 2018AY 2007-08

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.Narasimha Charylodhi Property Company Ltd. Vs Dcit C/O Authorized Representative Sr Circle 4(1) Batliboi & Co., Golf View New Delhi. Corporate Tower-B, Sector 42, Sector Road, Gurgaon. Aabch0299N & Dcit Vs Lodhi Property Company Ltd. Circle 4(1) C/O Authorized Representative Sr Batliboi & New Delhi. Co., Golf View Corporate Tower-B, Sector 42, Sector Road, Gurgaon. Aabch0299N Assessee By Sh. R.S. Singhvi, Ca Sh. Satyajeet Goel, Ca Revenue By Sh. Ravi Kant Gupta, Sr. Dr

Section 35Section 36Section 37(1)

…ITA Nos. 4851 & 4970/Del/2011 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘D’ NEW DELHI BEFORE SHRI G.D. AGRAWAL, HON’BLE PRESIDENT & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER Lodhi Property Company Ltd. vs DCIT C/o Authorized Representative SR Circle 4(1) Batliboi & Co., Golf View New Delhi. Corporate Tower-B, Sector 42, Sector Road, Gurgaon. AABCH0299N & DCIT vs Lodhi Property Company Ltd. Circle 4(1) C/o Authorized Representative SR Batliboi & New Delhi. Co., Golf View Corporate Tower-B, Sector 42, Sector Road, Gurgaon. AABCH0299N Assessee by Sh. R.S. Singhvi, CA Sh. Satyajeet Goel, CA Revenue by Sh. Ra…

Lodhi Property Company Ltd., Gurgaon vs. DCIT, New Delhi

In the result, appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 4851/DEL/2011[2007-08]Status: DisposedITAT Delhi26 Feb 2018AY 2007-08

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.Narasimha Charylodhi Property Company Ltd. Vs Dcit C/O Authorized Representative Sr Circle 4(1) Batliboi & Co., Golf View New Delhi. Corporate Tower-B, Sector 42, Sector Road, Gurgaon. Aabch0299N & Dcit Vs Lodhi Property Company Ltd. Circle 4(1) C/O Authorized Representative Sr Batliboi & New Delhi. Co., Golf View Corporate Tower-B, Sector 42, Sector Road, Gurgaon. Aabch0299N Assessee By Sh. R.S. Singhvi, Ca Sh. Satyajeet Goel, Ca Revenue By Sh. Ravi Kant Gupta, Sr. Dr

Section 35Section 36Section 37(1)

…ITA Nos. 4851 & 4970/Del/2011 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘D’ NEW DELHI BEFORE SHRI G.D. AGRAWAL, HON’BLE PRESIDENT & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER Lodhi Property Company Ltd. vs DCIT C/o Authorized Representative SR Circle 4(1) Batliboi & Co., Golf View New Delhi. Corporate Tower-B, Sector 42, Sector Road, Gurgaon. AABCH0299N & DCIT vs Lodhi Property Company Ltd. Circle 4(1) C/o Authorized Representative SR Batliboi & New Delhi. Co., Golf View Corporate Tower-B, Sector 42, Sector Road, Gurgaon. AABCH0299N Assessee by Sh. R.S. Singhvi, CA Sh. Satyajeet Goel, CA Revenue by Sh. Ra…

ACIT, New Delhi vs. M/S. Asf Insignia Sez Pvt. Ltd., New Delhi

Appeal is dismissed

ITA 6732/DEL/2014[2010-11]Status: DisposedITAT Delhi15 Sept 2017AY 2010-11

Bench: Shri O.P. Kant & Shri Amit Shuklain Ita Nos. 6732 & 6733/Del/2014 Assessment Years: 2010-11 & 2011-12 Acit, Circle-3(2), Vs. Asf Insignia Sez Pvt. Ltd. New Delhi (Earlier Known As Canton Buildwell Pvt. Ltd.), 11, Babar Lane, Bengali Market, New Delhi (Applicant) (Respondent) (Pan: Aaccc7148L) Co. No. 194/Del/2015 Assessment Year: 2011-12 Asf Insignia Sez Pvt. Ltd. Vs. Acit, Circle-3(2), (Earlier Known As Canton New Delhi Buildwell Pvt. Ltd.), 11, Babar Lane, Bengali Market, New Delhi (Applicant) (Respondent) (Pan: Aaccc7148L) Revenue By: Shri R.C. Dande, Sr. Dr Assessee By: Ms. Rano Jain, Adovcate Shri Ashish Goel, Ca

For Appellant: Ms. Rano Jain, AdovcateFor Respondent: Shri R.C. Dande, Sr. DR
Section 143(3)

…te Limited (Supra)" Page 6 of 9 6.4. Thereafter he relied on the decision of Delhi High Court in the case of CIT vs. Hughes Escorts Communication Ltd. 311 ITR 253 and the judgment of the Hon'ble High Court in the case of CIT vs. ESPN Software India (P) Ltd. 301 ITR 368 (Del.) and came to the conclusion that the business activity could be said to have been set up on obtaining of the required licence from the authority. 7. On the ground that the assessee has obtained approval of the said special economic zone from the Ministry of Commerce and as the assessee entered into an agreement with TCS for the lease of the…

ACIT, New Delhi vs. M/S. Ats Estates Pvt. Ltd., New Delhi

Appeal is dismissed

ITA 6753/DEL/2014[2008-09]Status: DisposedITAT Delhi11 Sept 2017AY 2008-09

Bench: Shri O.P. Kant & Shri Amit Shuklain Ita Nos. 6732 & 6733/Del/2014 Assessment Years: 2010-11 & 2011-12 Acit, Circle-3(2), Vs. Asf Insignia Sez Pvt. Ltd. New Delhi (Earlier Known As Canton Buildwell Pvt. Ltd.), 11, Babar Lane, Bengali Market, New Delhi (Applicant) (Respondent) (Pan: Aaccc7148L) Co. No. 194/Del/2015 Assessment Year: 2011-12 Asf Insignia Sez Pvt. Ltd. Vs. Acit, Circle-3(2), (Earlier Known As Canton New Delhi Buildwell Pvt. Ltd.), 11, Babar Lane, Bengali Market, New Delhi (Applicant) (Respondent) (Pan: Aaccc7148L) Revenue By: Shri R.C. Dande, Sr. Dr Assessee By: Ms. Rano Jain, Adovcate Shri Ashish Goel, Ca

For Appellant: Ms. Rano Jain, AdovcateFor Respondent: Shri R.C. Dande, Sr. DR
Section 143(3)

…te Limited (Supra)" Page 6 of 9 6.4. Thereafter he relied on the decision of Delhi High Court in the case of CIT vs. Hughes Escorts Communication Ltd. 311 ITR 253 and the judgment of the Hon'ble High Court in the case of CIT vs. ESPN Software India (P) Ltd. 301 ITR 368 (Del.) and came to the conclusion that the business activity could be said to have been set up on obtaining of the required licence from the authority. 7. On the ground that the assessee has obtained approval of the said special economic zone from the Ministry of Commerce and as the assessee entered into an agreement with TCS for the lease of the…

Globex Energia P.Ltd, Mumbai vs. Asst CIT 6(3), Mumbai

In the result, the appeal filed the assessee is partly allowed

ITA 1109/MUM/2014[2010-11]Status: DisposedITAT Mumbai18 Nov 2016AY 2010-11

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2010-11 Globex Energia P. Ltd. Acit 6(3) 4Th Floor, Sadhna House, 570 Mumbai- बनाम/ Pandurang Budhkar Marg, Vs. Behind Mahindra Towr, S. Worli Mumbai-400018 (Appellant) (Respondent ) P.A. No.Aadcg1161C Appellant By Shri Nishant Thakkar & Mis. Jasmin Amalsadvala (Ar) Revenue By Shri Prakash Mane (Dr) सुनवाई क" तार"ख/Date Of Hearing: 09/11/2016 18/11/2016 आदेश क" तार"ख /Date Of Order:

Section 143(1)Section 143(3)

…that setting up of business is distinct from commencement of business and expenses incurred after the setting up of the business are deductible as Revenue expenditure. It was held as held by the Hon’ble Delhi High Court in CIT Vs. ESPN Software India (P) Ltd. 301 ITR 368 that the date of setting up of business and date of commencement of business are distinct and the 10 Globex Energia P. Ltd. expenses incurred after the setting up of the business are deductible as Revenue expenditure.” 7. In the case before us, it may be seen that the assessee has already purchased residential flat for the purpose of resale/lease…

DCIT, New Delhi vs. M/S Field Fresh Foods Pvt. Ltd., New Delhi

In the result, the Revenue’s appeal is dismissed

ITA 5917/DEL/2010[2005-06]Status: DisposedITAT Delhi08 Aug 2016AY 2005-06

Bench: Shri R.S. Syal & Smt. Beena A. Pillaiassessment Year : 2005-06

For Appellant: Shri Anil Bhalla, CAFor Respondent: Shri Anil Kumar Sharma, Sr. DR
Section 3Section 4

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : B : NEW DELHI BEFORE SHRI R.S. SYAL, ACCOUNTANT MEMBER AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER Assessment Year : 2005-06 DCIT, Vs. Field Fresh Foods Pvt. Ltd., Circle-11(1), Room No.312, H-5/12, Qutab Ambience, CR Building, Mehrauli Road, New Delhi. New Delhi. PAN: AAACF8488N (Appellant) (Respondent) Assessee By : Shri Anil Bhalla, CA Department By : Shri Anil Kumar Sharma, Sr. DR Date of Hearing : 08.08.2016 Date of Pronouncement : 08.08.2016 ORDER PER R.S. SYAL, AM: This appeal filed by the Revenue is directed against the order passed by the CIT(A) on…

ACIT, New Delhi vs. M/S. Carrefour India Master Franchise Company Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 2800/DEL/2012[2008-09]Status: DisposedITAT Delhi15 Jan 2016AY 2008-09

Bench: Shri Inturi Rama Rao & Smt Suchitra Kamblei.T.A .No.-2800/Del/2012 (Assessment Year-2008-09)

Section 143(3)

…DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI INTURI RAMA RAO ACCOUNTANT MEMBER AND SMT SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A .No.-2800/DEL/2012 (ASSESSMENT YEAR-2008-09) ACIT vs Carrefour India Master Circle-3(1) Franchise Company Pvt. Ltd. New Delhi 216,Okhla Industrial Estate, (APPELLANT) Phase-III New Delhi AADCC2043B (Respondent) Appellant by Sh. Raman Kant Garg, SR. DR Respondent by Sh. Rupesh Jain, Adv. Date of Hearing 02 .11.2015 Date of Pronouncement 15.01.2016 ORDER PER SUCHITRA KAMBLE, JM This appeal is filed by the Revenue against the order dated 2/3/2012 passed by the Ld. CIT(A)’s VI, New Delhi. 2…

Aerens Builders Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result the appeal of the assessee is allowed

ITA 2308/DEL/2010[2005-06]Status: DisposedITAT Delhi16 Dec 2015AY 2005-06

Bench: Shri J. Sudhakar Reddy & Shri A.T. Varkeya.Y. 2005-2006 Aerens Builders P.Ltd. Vs. Dcit, C.C.8 (Now Known As Aerens Jai Realty P.Ltd.) New Delhi Kailash Colony New Delhi 110 048 Pan: Aacca 6440 P (Appellant) (Respondent)

For Appellant: Shri PC YadavFor Respondent: Shri KK Jaiswal, D.R
Section 115

…cquired through sister concerns and hence the business was set up. Once the business is set up revenue expenses has to be allowed and these include financial expenses as held by the Hon’ble Delhi High Court in CIT vs. ESPN Software Industries Ltd. reported in 301 ITR 368 (Del.) and in CIT vs. Hughes Escorts Communications Ltd. (2009) reported in 311 ITR 253 (Del.). 6.5. Applying the propositions laid down in this case laws to the facts of this case, this claim of the assessee has to be allowed. ITA 2308/Del/2010 Aerens Builders P.Ltd. A.Y. 2005-06 7. In the result the appeal of the assessee is allowed. Order…

Commissioner of Income Tax-5 vs. Jcdecaux Advertising India (P) Ltd

ITA/241/2015HC Delhi23 Apr 2015

…ITA 241/2015 Page 1 of 7 $~38 * IN THE HIGH COURT OF DELHI AT NEW DELHI % DECIDED ON: 23rd April, 2015 + ITA 241/2015 COMMISSIONER OF INCOME TAX-5 ..... Appellant Through Mr. Rohit Madan, Advocate versus JCDECAUX ADVERTISING INDIA (P) LTD. .... Respondent Through Mr. Pawan Kunal, Advocate CORAM: HON'BLE MR. JUSTICE S. RAVINDRA BHAT HON'BLE MR. JUSTICE R.K. GAUBA S.RAVINDRA BHAT, J. (OPEN COURT) 1. The Revenue is aggrieved by the order of…

Carefour Wc&C India Private Limited vs. Deputy Commissioner of Income Tax

ITA/42/2014HC Delhi22 Sept 2014
Section 260ASection 28Section 43D

…ent Corporation Limited, 192 ITR 151 (iv) Sarabhai Management Corporation Ltd. Vs. CIT, 102, ITR 25 (v) CIT Vs. Hughes Escorts Communications Ltd., 311 ITR 253 (vi) CIT Vs. Whirlpool of India Ltd., 318 ITR 347 (vii) CIT Vs. ESPN Software India (P) Ltd., 301 ITR 368 (viii) CIT Vs. Sauer Danfoss (P) Ltd., ITA No. 1367/2010 (ix) CIT Vs. Aspentech India (P) Ltd., 187 TAXMAN 25 (x) CIT Vs. E.Funds International India, 162 TAXMAN 1 (xi) CIT Vs. Dhoomketu Builders & Development Pvt. Ltd., 216 TAXMAN 76 2014:DHC:4885-DB ITA No. 42/2014…

Omniglobe Information Tech India Pvt Ltd

ITA/257/2012HC Delhi11 Aug 2014
Section 10B

…45 (Delhi), it has been observed that the date of setting up of business and date of commencement of business may be two separate dates. This decision in the case of L.G. Electronics (supra) has been followed in CIT v. ESPN Software India P. Ltd., [2008] 301 ITR 368 (Delhi) wherein it has been held that a 2014:DHC:3835-DB ITA 257/2012 Page 8 of 18 business will “commence” with the first purchase of stock- in-trade and the date on which the first sale is made is immaterial. Similarly, for manufacturing, several activities in order to bring or produce fin…

Commissioner of Income Tax vs. Samsung India Electronics Ltd

The appeal is dismissed with costs

ITA/131/2010HC Delhi09 Jul 2013
Section 260ASection 37

…5 (Delhi), it has been observed that the date of setting up of business and date of commencement of business may be two separate dates. This decision in the case of L.G. Electronics (supra) has been followed in CIT Vs. ESPN Software India P. Ltd., [2008] 301 ITR 368 (Delhi) wherein it has been held that a business will “commence” with the first purchase of stock-in-trade and the date on which the first sale is made is immaterial. Similarly, for manufacturing, several activities in order to bring or produce finished products have to be undertaken, but business commences when the first of such activiti…

The Commissioner of Income Tax- I vs. M/s. Avon Organics Limited

ITTA/257/2012HC Telangana17 Jul 2012

Bench: GODA RAGHURAM,M.S.RAMACHANDRA RAO