Any activity carried on continuously and systematically by a person by the application of his labour or skill in order to earn an income is 'business'--ratio of Supreme Court judgment in the case of Barendra Prasad Ray v. I.T.O. The activities of the Jain brothers, even if considered illegal, were therefore 'business' activities, hence the entries recorded in MR 71/91 make it a book of account kept in the course of business. "..........in Barendra Prasad Ray v. I.T.O. ...........this Court observed that the word 'business' is one of wide import and it means an activity carried on continuously and systematically by a person by the application of his labour or skill with a view to earning an income. The activities of the Jain brothers, as sought to be projected by the prosecution now on the basis of the materials collected during investigation (detailed earlier) would, therefore, be 'business' for they were being carried on continuously in an organised manner, with a set purpose (be it illegal) to augment their own resources. MR 71/91 is, therefore, a book of account kept in the course of business."
IN THE SUPREME COURT OF INDIA
Crl. A. Nos. 247-256 of 1998 (arising out of SLP (Crl.) Nos. 1716-1725 of 1997
Decided On: 02.03.1998
Central Bureau of Investigation Vs.V.C. Shukla & Ors.
Hon'ble Judges/Coram:
M.K. Mukherjee, S.P. Kurdukar and K.T. Thomas, JJ.
Citation: AIR 1998 SC 1406.
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