1988 (12) TMI 10 - HC - Income Tax

Summary

The High Court of Bombay ruled in a case involving the inclusion of loans in capital computation base under section 80J of the Income-tax Act. The court answered the first and third questions in the negative, favoring the Revenue, based on a previous Supreme Court judgment. The second question was not considered. No costs were awarded. (Case citation: 1988 (12) TMI 10 - BOMBAY High Court)