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

Bench: GODA RAGHURAM,M.S.RAMACHANDRA RAO

301 ITR 368 (Delhi) wherein it has been held that a 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 finished products have to be undertaken, but business commences