Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1974 (7) TMI 42 - BOMBAY HIGH COURT
Extract:
.......orrowings made for the purpose of payment of proportionate estate duty liability will have to be allowed as a deduction under section 12(2) of the Act. The question will have, therefore, to be answered in the affirmative and in favour of the assessee. Revenue will pay the costs of the reference to the assessee. Question answered in the affirmative.