1987 (7) TMI 146

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..... inion of the Hon'ble High Court under s. 256(1) of the IT Act: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in allowing the set off of loss suffered by the assessee's wife in the firm in which the assessee and his wife were partners, against the income of the assessee under s. 64(1)(i) though Expln. 2 to s. 64 was inserted in the IT Act, 1961 w.e.f. .....

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..... issed by the Tribunal relying upon the earlier decision in ITA No. 611/Chd/80 decided on 17th Sept., 1982. 3. The Department was moved this reference application. Two points were urged by Shri D.K. Gupta the ld. counsel for the assessee. One was that w.e.f. 1st April, 1980 the legislature has introduced Expln. 2 to s. 64 and because of that the question need not be referred. Notwithstanding thi .....

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