COMMISSIONER OF INCOME TAX Vs. MAHARAJA OF DARBHANGA

JUDGEMENT

(1.) THIS is a reference by the Commissioner of Income-tax under Section 66(2) of the Indian Income-tax Act, 1922, for the opinion of the Court on the two questions :

(2.) IT will be convenient to state the facts regarding each of the quest ions separately.

(3.) FOR these reasons I would accept the contention of the assessee and hold that he is entitled to claim this loss.