Supreme Court · 1965 INSC 243 · Decided 5 November 1965
Commissioner of Income-Tax, Uttar Pradesh v. Manmohan Das
- Court
- Supreme Court of India
- Citation
- 1965 INSC 243 · [1966] 2 S.C.R. 531
- Case number
- CIVIL APPEAL No. 512/1964
- Decided
- 5 November 1965
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 24(4), 66(1), 12, 10, 24(2)
Headnote
Income-tax Act (11 of 1922), ss. 10 and 24-Treasurer of Bank-If "vocarion"-Right of assessee to carry forward loss of one year to subse­ qllent year and set off against profit-Scope of. The respondent was appointed Treasurer of a Bank in respect of certain of its branches, pre,·ious year corresponding to the assessment year 19)0-51, he suffered a loss in performing his duties as Treasurer. But the Income-tax Officer, in assess­ ing the respondent to income-tax, declared that the loss could not be carried forward to the next year under s. 24(4) of the
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