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1973 (1) TMI 16 - HC - Income TaxPetitioner is a Hindu undivided family and Sri Jugal Kishore is the karta thereof. He was a director on behalf of the Hindu undivided family in Messrs. Ram Chand Sugar (Private) Ltd. - director pays some amount to other directors for the loss during his management of the Company - " Whether, on the facts and in the circumstances of the case, the assessee is entitled to the deduction of Rs. 26,000 under section 10(1) or section 10(2)(xv) or section 12 of the Indian Income-tax Act, 1922 ? "
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