Supreme Court of India
The Commissjoner of Income-tax, Bombay City Ii, Bombay v. M/s. Jadavji Narsidas & Co.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
3 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the opinion that the High Court did not exceed its powers in examining the evidence in support of the inference of the Income-tax Officer that no business was done in company with Damji but the assessee firm took over some of his losses.
Judgment, page 9
From the headnote
Income Tax-Set-off-Profits of regi•tered firm and· loss incurred in unregistered firm-Findings of Tribunal-When binding on High Court-Indian Income-tax Act, 1922 (11 of 1922), SS, 24, 66 (2). The respondent, a fir:n consisting of fonr partners, was registered under the Indian Income-lax Act, I 922. For the assessment year 1946-4 7 it claimr.d to set off a sum of Rs. 1,05,641, as its share of the loss in respect of certain transactions said t? have beei: carried on i~ the name of by another partnership be'.".'een '.t and , wh1~h was not registered. The income-tax au~honU~s reJe~t.ed the
Where later benches applied it
- 2019 Ravinder Kaur Grewal & Ors v. Manjit Kaur & Ors.
- 1999 M/s. Surana Steels Pvt. Ltd. Etc. Etc. v. The Deputy Commissioner of Income Tax and Ors.
- 1967 Lallu Yeshwant Singh v. Rao Jagdish Singh & Ors.
Of those, 3 mentioned
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