Supreme Court Upholds Assessee Company in Income Tax Matter — Past Losses Preceding Capital Reconstruction Pertinent for Section 23-A Reasonableness. Losses Incurred in Earlier Years Includes All Unadjusted Losses, Not Just Those Carried Forward After Reconstruction, Under Section 23-A of Income Tax Act, 1922.
5 Dec 1967The dispute arose from an order under Section 23-A of the Income Tax Act, 1922, deeming the respondent company, Jubilee Mills Ltd., to have declared a...
