1988 (3) TMI 20 - HC - Income Tax

Summary

The High Court of Rajasthan ruled in favor of the assessee, Prahlad Maliram, stating that the income earned by Temani Trading Company in the assessment year 1969-70 should not be included in the hands of the assessee. The decision was based on a previous court order that found no justification for treating the business of Temani Trading Company as belonging to the assessee.