https://www.taxtmi.com/caselaws?id=37937 The High Court of Madhya Pradesh upheld the Tribunal's decision that a private limited company had ceased its business activities permanently in the assessment years 1964-65 and 1965-66. The company's claim to set off previous losses against income was disallowed as the business had disposed of stocks, let out premises, and ceased ancillary activities. The Court ruled that the cessation of business was a factual determination, not a legal issue, and dismissed the application, with each party bearing their own costs. en-us Thu, 16 Mar 1978 00:00:00 +0530 Fri, 02 Apr 2010 12:27:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37937 The High Court of Madhya Pradesh upheld the Tribunal's decision that a private limited company had ceased its business activities permanently in the assessment years 1964-65 and 1965-66. The company's claim to set off previous losses against income was disallowed as the business had disposed of stocks, let out premises, and ceased ancillary activities. The Court ruled that the cessation of business was a factual determination, not a legal issue, and dismissed the application, with each party bearing their own costs. Case-Laws Income Tax Thu, 16 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37937