COMMISSIONER OF INCOME TAX Vs. M BALASUBRAMANIAN

JUDGEMENT

(1.) AT the instance of the Revenue, the Appellate Tribunal has stated the case and referred the following question of law under Section 256(1) of the Income-tax Act, 1961, for the opinion of this court :

(2.) A similar question came up before this court in the case of CIT v. M. Manickasundaram [1996] 220 ITR 133 wherein this court has held that the share of loss of an unregistered firm could not be taken into account and set off against the assessee's other agricultural income, while computing his net agricultural income in assessing to tax his non-agricultural income for the purpose of fixing the rate of tax.