1991 (8) TMI 6

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....date of commencement of the respondent-assessee's business. The Tribunal was of the opinion that the business of the assessee could not be said to have commenced during the year which ended on March 31, 1965. The High Court has, however, taken a contrary view [ vide judgment reported in [1976] 102 ITR 25 (Guj)] and answered the question in favour of the assessee. Hence, this appeal by the Departme....

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....s analysed the various component activities of the assessee's business and pointed out that two categories of the activities of the business had been carried on during the previous year in question. The assessee had purchased a property ; it was on the look out for persons to whom it could be let out ; it had been able to get a customer ; and it had carried out repairs, rewiring, installation of l....