Supreme Court · 1980 INSC 111 · Decided 8 May 1980
Commissioner of Income Tax, Patiala v. Piara Singh
- Court
- Supreme Court of India
- Citation
- 1980 INSC 111 · [1980] 3 S.C.R. 1122
- Case number
- CIVIL APPEAL No. 2752/1972
- Decided
- 8 May 1980
- Bench
- P.N. BHAGWATI, V.D. TULZAPURKAR, R.S. PATHAK (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10(1)
Headnote
Losses in business-Deduction under section 10(1) of the Income Tax Act, . 1922.....:./s a smuggler who is taxed on his income from smuggling under the Income Tax Act, 1922 entitled to a deduction under section 10(1) of the Act on account of the confiscation of currency notes e1nployetl in the 1958 by the Indian Police while crossing the Inda-Pakistan border into Pakistan. A sum o~ Rs. 65,500/r in currency notes was recovered from his person. On interro­ gation he stated that he was taking the currency notes to Pakistan to enilble him to purchase gold in that country with a
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)