1988 (10) TMI 5 - HC - Income Tax

Summary

The High Court of Calcutta addressed questions under the Income-tax Act, 1961 for assessment years 1972-73, 1974-75, and 1976-77. The court ruled on the treatment of borrowed capital for relief under section 80J and declined to answer a question regarding the claim under section 35C as the assessee did not appear. No costs were awarded.