Tribunal held that the commencement of real estate business would start with the acquisition of land by an assessee whose intention was to develop it. There was no dispute with regard to the fact that the assessee had started acquiring lands in 2007 itself. Accordingly, the assessee had already set up its business and expenses incurred in running the business were allowable as deduction, even though no business income was declared. Followed, CIT v. Dhoomketu Builders and Development P. Ltd (2014) 368 ITR  680 (Delhi) (HC)  and ACIT  v. Valmark Developers Pvt. Ltd. (2018) (4) TMI  1565 (Bang.)(Trib.). As regards all the expenses related to development of residential and commercial projects ought to be taken to the work-in-progress account and could not be claimed as deduction. The remaining expenses should be allowed as deduction. If any common expenses had been incurred, they could be split into project-related items and general items on a rational basis. The issue was to be restored to the Assessing Officer for this purpose. (AY. 2012-13, 2013-14, 2014-15).