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1972 (8) TMI 26 - KERALA HIGH COURTWhether Tribunal was justified in law in sustaining the levy of the capital gains on the registered firm - Whether Tribunal was justified in law in disallowing the benefits under section 54(i) on the value of the house property purchased by one of the partners for the residence of the partner - Whether Tribunal was correct in law in disallowing the exemption in respect of Rs. 25,000 being the general exemption granted to a registered firm and whether the interpretation placed on the Finance (No. 2) Act of 1967 read along with section 114 of the Income-tax Act is in accordance with law
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