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1987 (10) TMI 26 - HC - Income Tax
Extract:
....... case. The above view receives support from Laxmi Narain Gupta v. CIT 1980 124 ITR 94 (Pat). No decision taking a contrary view has been brought to our notice at the Bar. For the reasons aforementioned, we answer the question in the negative, i.e., in favour of the assessee and against the Revenue and dispose of the reference accordingly. No costs.