1979 (11) TMI 68 - HC - Income Tax

Summary

The High Court of Delhi ruled that partners in a firm engaged in an industrial undertaking are entitled to exemption under section 84 of the Income-tax Act, in addition to any relief granted to the firm. This decision aligns with previous judicial rulings and the plain language of the section. The Tribunal's decision was deemed correct. (Case citation: 1979 (11) TMI 68 - DELHI High Court)