Operation - Definition - Law Dictionary Home Dictionary Definition operation

Definition :

Operation, it is not every business activity of a manufacturer that comes within the expression 'operation' to which the provisions of s. 42(3) are attracted. These provisions have no application unless according to the known and accepted business notions and usages the particular activity is regarded as a well defined business operation, Anglo French Textile Co. v. C.I.T., AIR 1953 SC 105 (108). (Income Tax Act, 1922, s. 42)