1986 (2) TMI 42 - HC - Income Tax

Summary

The High Court of Patna held that the business of Rajmahal belonged to the assessee as an individual, and the income from the business should be included in the individual's total income. The Tribunal's decision was deemed correct in law. The judgment was in favor of the assessee, and each party was ordered to bear their own costs. The judgment will be sent to the Income-tax Appellate Tribunal as per the Income-tax Act, 1961.