https://www.taxtmi.com/caselaws?id=157913 The amended definition of "business" in section 2(5A) of the Bombay Sales Tax Act, 1959 covered transactions connected with, or incidental or ancillary to, the commencement or closure of trade, commerce or manufacture. Taxability depended on the sale as the material event, not on when the dealer closed the business. Sales effected after the retrospective amendment came into force were therefore taxable under the law then applicable, and the prior closure of the business before 1 July 1981 did not exclude them from the amended definition. The issue was answered in favour of the Revenue. en-us Mon, 20 Feb 1995 00:00:00 +0530 Sat, 12 Oct 2013 13:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157913 The amended definition of "business" in section 2(5A) of the Bombay Sales Tax Act, 1959 covered transactions connected with, or incidental or ancillary to, the commencement or closure of trade, commerce or manufacture. Taxability depended on the sale as the material event, not on when the dealer closed the business. Sales effected after the retrospective amendment came into force were therefore taxable under the law then applicable, and the prior closure of the business before 1 July 1981 did not exclude them from the amended definition. The issue was answered in favour of the Revenue. Case-Laws VAT and Sales Tax Mon, 20 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157913