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of <h1>Amended definition of 'business' applies retrospectively from 1981, not before.</h1> <h3>Filtair & Allied Engg. Corporation Versus State of Maharashtra</h3> The Bombay HC ruled in favor of the assessee, stating that the amended definition of 'business' applied to transactions related to business closure with ... - The Bombay High Court addressed a reference under section 61(1) of the Bombay Sales Tax Act regarding the taxability of machinery sale after business closure. The court ruled in favor of the assessee, stating that the amended definition of 'business' included transactions related to business closure, with retrospective effect from July 1, 1981. The court held that the amended definition should not be applied to transactions before that date.
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