Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1978 (7) TMI 64 - MADHYA PRADESH HIGH COURT
Extract:
.......4 of the I.T. Act, 1961, applies only to individuals or living persons and not to fictional or artificial juridical persons. As a result of the discussion aforesaid, the question referred to us is answered in the affirmative, in favour of the revenue and against the assessee. However, we direct the parties to bear their own costs of this reference.