TMI Blog2017 (7) TMI 611X X X X Extracts X X X X X X X X Extracts X X X X ..... ate business activities were carried out by some person and when one set of account is maintained for all set of activities. In the present case also, one set of account is maintained for the business activity by the Assessee. The Assessee had incurred expenditure on account of expansion of business and the Assessee had commenced the business as per the findings of the Commissioner (Appeals) and the Tribunal. The said findings are findings of the fact. - Decided against revenue - Income Tax Appeal No. 892 of 2014, Income Tax Appeal No. 948 of 2014 - - - Dated:- 5-7-2017 - S. V. Gangapurwala And A. M. Badar, JJ. Mr.Ashok Kotangle a/w. Ms.Padma Divakar Mr.Arvind Pinto for the Appellant Mr.Percy Pardiwalla, Senior Counsel a/w. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the Tribunal accepted the case of the Assessee holding it to be revenue expenditure. Aggrieved thereby, the Appellant filed the present appeal. 4] Mr. Pinto and Mr. Kontangle, the learned counsel for the Department strenuously contends that the Assessee itself had shown the same as a capital in its books of account. Thereby making its intention clear. The learned counsel further submits that the business had not exactly commenced. The expenditure for the purpose of acquisition of the assets would be a capital and cannot be termed to be a revenue expenditure. The Assessing Officer had rightly considered the said aspect. The learned counsel submits that the judgment of this Court in a case of Commissioner of Income Tax vs. Kothari Aut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rers Pvt. Ltd. (supra), this Court had specifically observed that separate computation of income and expenditure would be justified only when several distinct business are carried on, and not when the separate business activities were carried out by some person and when one set of account is maintained for all set of activities. 9] In the present case also, one set of account is maintained for the business activity by the Assessee. The Assessee had incurred expenditure on account of expansion of business and the Assessee had commenced the business as per the findings of the Commissioner (Appeals) and the Tribunal. The said findings are findings of the fact. 10] In view of the above, no substantial question of law arises. These Appeals ..... X X X X Extracts X X X X X X X X Extracts X X X X
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