Supreme Court · 1969 INSC 49 · Decided 19 February 1969
Commissioner Oj!' Income-Tax, Andhra Pradesh, Hyderabad v. A. Dharma Reddy, Morthad
- Court
- Supreme Court of India
- Citation
- 1969 INSC 49 · [1969] 3 S.C.R. 782
- Case number
- CIVIL APPEAL No. 1057/1966
- Decided
- 19 February 1969
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution; Income Tax Act Section 24(2)(ii)
Headnote
Income-tax Act (11 of 1922). s. 24(2)(ii) as amended in 1955- Loss sustained by a partner in a dissolved firm, if can be set ofi against profit earned in anuther firm in the subsequent year. The assessee carried on two businesses in Didi leaves as partner in B two different firms. The first firm of four; both these firms were assessed to income tax separately and it was admitted that the two finns had nothing to do with each other. The first firm sustained losses and was dissolved. The assessee claimed that the losses sustained by him in the previous year (sustained in the first
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)