1983 (2) TMI 138 - AT - Income Tax

Summary

The ITAT Madras-C dismissed three departmental appeals involving firms dealing in drugs, chemicals, and textiles. The appeals were based on clubbing income of two firms, but the ITAT ruled that there was no evidence of interlocking or interlacing, and the clubbing was solely based on a legal proposition that is no longer valid. The appeals were dismissed. (Case citation: 1983 (2) TMI 138 - ITAT MADRAS-C)