1999 (2) TMI 25 - HC - Income Tax

Summary

The Bombay High Court addressed two questions of law regarding tax issues for the assessment year 1973-74. The court ruled in favor of the Revenue and against the assessee for both questions. The first question concerned the taxation of gross dividend from Ceylon, and the second question clarified that daily allowance received for duties as a director in Bombay was not exempt under section 10(14) of the Income-tax Act, 1961. The reference was disposed of with no costs.