Scope and applicability of sub-section (1) of Section 64 of the Income-tax Act, 1961. - Income Tax - 1006/CBDT

INSTRUCTION NO. 1006/CBDT Dated : September 14, 1976 Section(s) Referred: 64 Statute: Income - Tax Act, 1961 Doubts have been expressed by certain Commissioners of Income-tax regarding the scope and applicability of sub-section (1) of Section 64 of the Income-tax Act, 1961. 2. In this connection the decision of the I.T. Appellate Tribunal, Chandigarh Bench in the case of Shri Lalchand Bhalla c/o. Messrs Rajkumar Parmanand Bhalla, Yamunanagar Vs. Income-tax Officer, Yamunanagar In I.T.A. No. 400 of 1973-74, dated 30-11-1974 may be referred to where the Appellate Tribunal has discussed the applicability and scope of sub-section (1) of section 64 of the Income-tax Act, 1961.