2008 (3) TMI 90 - DELHI HIGH COURT

Assessee has acquired the license on 15th August, 1995, and after getting the license, the Assessee was in a position to start the business, so, under these circumstances, we have no hesitation in holding that the Assessee has commenced his business on or after 15th August, 1995 – hence assessee is allowed to claim deduction as assessee obtained licence & commenced business in relevant previous year – deduction for depreciation allowance is also allowed – no question of law arise