1988 (11) TMI 29 - HC - Income Tax

Summary

The High Court of Punjab and Haryana ruled in favor of the assessee-company regarding the deduction under section 80G of the Income-tax Act for the assessment years 1974-75 and 1975-76. The court adopted the interpretation given by the Kerala High Court and held that the assessee was entitled to proportionate deductions. The question was answered in the affirmative against the Revenue, with each party bearing their own costs.