https://www.taxtmi.com/caselaws?id=158354 An inclusive definition of "business" was held wide enough to cover sale of assets connected with winding up, so disposal of plant, machinery, stock, furniture and other items after dissolution, when made during finalisation of the firm's affairs, constituted turnover in the course of business and was taxable. The plea that the transaction was a sale of the business as a whole was rejected because no genuine transfer of the undertaking as a running concern was shown; goodwill and know-how were not separately established as part of such a sale, and the assets were sold item by item. The disputed turnover was therefore held taxable. en-us Fri, 13 Oct 1995 00:00:00 +0530 Tue, 22 Oct 2013 14:49:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158354 An inclusive definition of "business" was held wide enough to cover sale of assets connected with winding up, so disposal of plant, machinery, stock, furniture and other items after dissolution, when made during finalisation of the firm's affairs, constituted turnover in the course of business and was taxable. The plea that the transaction was a sale of the business as a whole was rejected because no genuine transfer of the undertaking as a running concern was shown; goodwill and know-how were not separately established as part of such a sale, and the assets were sold item by item. The disputed turnover was therefore held taxable. Case-Laws VAT and Sales Tax Fri, 13 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158354