Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1988 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1988 (2) TMI 428 - ANDHRA PRADESH HIGH COURTExtract: ....... investment in the partnership firm is liable to be deducted from the share income and only the resultant income could be taxed in the hands of the assessee by applying the provisions of section 64(1)(iii) of the Act. We accordingly answer the reference in the affirmative, that is to say, in favour of the assessee and against the Revenue. No costs.
|