RAGHUNATH PRASAD Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessee Raghunath Prasad was assessed to income-tax and excess profits tax for the year 1945-46. He made an application for a reference under section 66(1) of the Indian Income-tax Act and the Tribunal referred to us two questions for decision which were as follows :

(2.) WHETHER in the circumstances of the case, the litigation expenses amounting to Rs. 6,338 represented admissible business expenditure under section 10(2) (xii) now (xv) of the Income-tax Act ?

(3.) THE two business in cloth and grain were continued by Ramsarup and Radhey Lal but they did not carry on any further money-lending business.