1986 (4) TMI 9 - HC - Income Tax

Summary

The High Court of Patna ruled in favor of the assessee, Dr. P. R. Chakravarty, stating that the receipts of pranamis were casual and non-recurring, and therefore exempt under section 10(3) of the Income-tax Act, 1961. The decision was based on previous court rulings. Each party will bear their own costs.