Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1947 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1947 (1) TMI 15 - HC - Income TaxExtract: .......er to the highest tribunal, that, it seems to me, can give him no claim to have the mistake repeated in 1940 in his favour. The money may have become irrecoverable in 1940, but it can then only be regarded as a capital loss of a defunct business. It cannot possibly be treated as a trading loss of the assessment year. Reference answered accordingly.
|