1985 (3) TMI 13 - HC - Income Tax

Summary

The High Court of Madhya Pradesh held that the assessee was not entitled to deduction under section 80RRA of the Income-tax Act because approval from the Central Government or prescribed authority was not obtained as required by the law. The Tribunal's decision in favor of the assessee was deemed incorrect. The court ruled against the assessee, stating that the conditions for claiming the deduction were not fulfilled.