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1 - 6 of 6 (0.19 seconds)Section 24 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Jagannath Mahadeo Prasad vs Commissioner Of Income Tax on 14 April, 1964
This Court held disagreeing
with Jagannath Mahadeo Prasad's case (2) that in the
computation of the income, profits and gains of the year of
assessment under s. 1O ( 1 ) of the Indian Income-tax Act,
the assessee is not entitled to set off speculative losses
against profits from other business activities of the same
year.
Commissioner Of Income-Tax, U.P vs Jagannath Mahadeo Prasad, Etc on 2 August, 1968
On tile second contention not much need be said. The High
Court purported to follow the judgment in Jagannath Mahadeo
4 2 1
Prasd's case(1), but that judgment has been expressly
overruled by this Court in Commissioner of Income-tax, U.P.
v. Jagannath Mahadeo Prasad(-).
Income Tax Rules, 1962
1