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1950 (12) TMI 4 - SC - Income Tax
whether a deduction of the interest of ₹ 5,582 is a permissible deduction under Section 10(2)(iii) of the Income-tax Act?
Held that:- This appeal should be allowed on the simple ground that the facts necessary to be established by the respondents to support their claim for exemption under Section 10(2)(xv) of the Indian Income-tax Act have not been established at any stage of the proceedings and therefore they are not entitled to the deduction claimed. The appeal is therefore allowed