| Citation(s) |
|---|
| 1969 SLG 745 1969 SLD 745 (1969) 20 TAX 6 1969 PTD 94 |
Income Tax Appellate Tribunal
I.T.A. No. 882 of 1967-68 (Assessment year 1960-61), decided on 29.2.1968
A. AHMED, ACCOUNTANT MEMBER AND M. EUSUF, JUDICIAL MEMBER
A. Rahim, D.R., for the Appellant. M. Osman, Advocate, for the
Respondent.
I.T.A. No. 882 of 1967-68 (Assessment year 1960-61), decided on 29.2.1968
A. AHMED, ACCOUNTANT MEMBER AND M. EUSUF, JUDICIAL MEMBER
A. Rahim, D.R., for the Appellant. M. Osman, Advocate, for the
Respondent.
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Law:
Section:
Income-tax Act, 1922 -- Sections 24(2), 24(2)(ii) (after amendment in 1960) -- Loss -- Carry forward and set off of loss -- Dealer in jute also running a jute press -- Loss in jute dealings of earlier year -- Whether can be carried forward and set off against profits from jute press in subsequent year -- Held yes -- " Such business Same business meaning of -- Setting off of loss -- Business of buying, baling and dealing in jute -- Receipt of baling charges from outsiders when baling press also employed in assessee's own jute business -- Held, would not make jute baling a separate business so as to attract mischief of section 24(2) - ORDER The order was passed by A. AHMED Accountant Member.---This appeal which relates to the charge year…
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