Supreme Court · 1969 INSC 26 · Decided 4 February 1969
Hoogly Trust (Private) LTD. v. Commissioner of Income-Tax, West Bengal and Andaman and Nicobar Islands
- Court
- Supreme Court of India
- Citation
- 1969 INSC 26 · [1969] 3 S.C.R. 557
- Case number
- CIVIL APPEAL No. 1659/1968
- Decided
- 4 February 1969
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 24(2)
Headnote
rncome-tax Act (11 of 1922), s. 24(2) (before its amendment by the Finance Act of 1955)-Business in several commodities--Lcss in one­ Set off claimed against profits in others--QuesUon of fact-When High Court can examine its correctness. The asses.see carried on. business· in cloth. In tlie assessment years 1953-54 and 1954-55 the assessee suffered loss in cloth business, and it was determined for the purposes of s. 24(2) of the Income-tax Act, 1922 (as it stood before the amendment in 1955). During the subsequent three assessment years, the Income-tax Officer
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