2009 (4) TMI 978

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.... returned a finding of fact to the effect that the business of the assessee had been continued for the relevant assessment year. The CIT(A) has taken note of the fact that even if orders had not been received, there was ample reason to conclude that the business operations were continuing in the relevant year. Ms. Sonia Mathur has urged before us that the ITAT has sustained the findings of the ....

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....reasoning given in the earlier assessment year. The following paragraph from the order of the CIT(A), which has been upheld by the ITAT is relevant. I have considered the facts of the case and also gone through the appellate order for immediately preceding year. In fact, I have given a finding in assessment year 2002-03 that the business of turbo charges is in existence and merely because or....