Supreme Court Allows Assessee's Claim for Carry Forward and Set Off of Cloth Business Losses under Section 24(2) of Income-tax Act, 1922. Business in Cloth and General Section Held to Be Same Business Based on Inter-lacing of Funds, Common Management, and Unity of Control, Overriding Income Tax Officer's Disallowance.
4 Feb 1969The case involved appeals by the assessee, a private limited company, against the judgment of the Calcutta High Court which had answered a reference q...
