1934 (12) TMI 17 - HC - Income Tax

Summary

The High Court of Lahore directed the Commissioner of Income Tax to state facts and refer questions. The case involved setting off losses in a firm against profits of another concern. The court ruled that the losses could not be set off as the partnership firm was not a legal entity. The reference was disposed of, and the Commissioner was allowed costs. (Citation: 1934 (12) TMI 17 - HIGH COURT OF LAHORE)