2011 (6) TMI 69

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....)   Revenue is in appeal against judgement of the tribunal dated 29.4.2009 raising following questions for our consideration :   (A) Whether the Appellate Tribunal is correct in holding that the business of the assessee has already commenced?   (B) Whether the Appellate Tribunal is correct in holding that if the company has undertaken certain activities as mentioned in its origin....

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....spondent assessee is a Government company registered under Section 617 of the Companies Act. It was incorporated to implement Gujarat Reforms Project by Urban Development and Urban Housing Department of Government of Gujarat. Assessee is a 100% Government owned company whose Directors are deputed by the Government and the policy and functions are to be carried out as framed by the Government for w....

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....gement Authority. Assessee was also appointed as Nodal agency for implementation of Gujarat Reforms Project by the Urban Development and Urban Housing Department of Government of Gujarat. Tribunal therefore, concurred with the view of Assessing Officer and considered that such activities were undertaken in furtherance of the main object of the company. Such activities were considered as preoperati....