2018 (8) TMI 928 - SCH - Income Tax

Commencement of business - whether in case of an assessee whose main object is to construct dam canal etc. the business commences only when the entire project for construction of dam canal etc. is complete and not when the first brick was put up at the construction site? - Allowability of interest expenditure u/s.57 against the interest income. Held that - SLP dismissed on the ground of low tax effect.

Summary

The Supreme Court of India dismissed the Special Leave Petition due to low tax effect. Delay was condoned, and any pending applications were disposed of accordingly.