1989 (9) TMI 388 - HC - Income Tax

Summary

The High Court of Calcutta ruled in favor of the assessee in an income tax case for the assessment year 1974-75. The Tribunal held that the Income-tax Officer was not justified in assessing a receipt of Rs. 21,866 to tax by invoking the deeming provisions of the Income-tax Act, 1961. The Court upheld the Tribunal's decision based on earlier case law and answered the question of law in favor of the assessee.