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1966 (9) TMI 32 - SUPREME COURT
Extract:
.......se profits and gains. It is, therefore, clear that this amount could not have been claimed as a legitimate deduction under section 10(2)(xv) of the Income-tax Act. Our view is supported by the observations of Rowlatt J. in Countess Warwick Steamship Co. Ltd. v. Ogg. The appeal consequently has no force and is dismissed with costs. Appeal dismissed.