Supreme Court · 1987 INSC 139 · Decided 29 April 1987
Seth Banarsi Dass Gupta & ANR. ETC. v. Commissioner of Income-Tax, DELHI.
- Court
- Supreme Court of India
- Citation
- 1987 INSC 139 · [1987] 3 S.C.R. 101
- Case number
- CIVIL APPEAL No. 850/1973
- Decided
- 29 April 1987
- Bench
- RANGANATH MISRA, G.L. OZA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
B Income-tax Acr, 1922: s. 10(2)(vi), s. 24-Depreciation-Benefir of-Admissible only where assessee full owner of property-Assessee alone entit/,R:(i to maintain claim-Carried forward loss-Claim for ser off-When admissible-Assessee surrendering lease of partnership share for annuity-Nature of partner in a firm running a sugar factory, instituted a suit ~ _ for its dissolution in I948 and a Rereiver was appointed by the Court. The arrangement arrived at for the factory was that it would be leased out for a term of five years to the highest bidder from amongst the six D partners. In
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