2017 (2) TMI 161 - SCH - Income Tax

Commencement of business - construction of dam and canal - Held that - The special leave petition is dismissed. It wrong to uphold the contention of Revenue that only on completion of work of entire Canal, the assessee s business can be said to have been set up. In a Project like the Sardar Sarovar , there are bound to be different stages where different activities take place and those activities being integral part of business and when they are set up phase wise, the assessee cannot be deprived of the benefits of fiscal legislation in disregard of the well settled principles on the issue. See HC REF - 2016 (6) TMI 597 - GUJARAT HIGH COURT .