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1989 (9) TMI 57 - HC - Income Tax
Extract:
.......t it is not necessary to go into that contention to answer the reference as we agree with the finding of the Tribunal that the expenditure is allowable as a trading loss. As that conclusion is sufficient, we answer the reference against the Revenue and in favour of the assessee. The Revenue will pay the costs of the assessee. Counsel s fee Rs. 500.