TMI Blog1991 (8) TMI 6X X X X Extracts X X X X X X X X Extracts X X X X ..... owever, taken a contrary view - business can be said to have commenced when assessee puts the property into proper shape and ready to be let out - - - - - Dated:- 28-8-1991 - S. RANGANATHAN., N. D. OJHA. and V. RAMASWAMY. ORDER The question in this appeal which arises out of an income-tax reference is as to the date of commencement of the respondent-assessee's business. The Tribunal was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no reasonable man would arrive at on the proved facts. There can be no quarrel with the proposition put forward by Dr. Gauri Shankar. However, the High Court has pointed out rightly, in our opinion, that, in this case, the Tribunal has proceeded on a misapprehension regarding the nature of the assessee's business. It has analysed the various component activities of the assessee's business and poi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the subsequent activities certainly constitute activities in the course of the carrying on of the assessee's business. It would not be correct, as rightly pointed out by the High Court, to treat the assessee as having commenced its business only when the licensee or lessee occupied the premises or started paying rent. In these circumstances, we are of the opinion that the High Court was right in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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