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1997 (9) TMI 5 - SC - Income Tax
Whether on a proper interpretation of the terms and conditions of the 'leave and licence agreement' executed on October 19, 1963, the Tribunal was right in holding that the loss of ₹ 20 lakhs which had been deposited by the assessee with S pursuant to clause 17 of the said agreement, arose in the carrying on of the assessee's business and was incidental to it and was accordingly allowable as a business loss - Held, no