ZAINUDDIN HUSSAIN MIRZA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) IN this case the following two questions have been referred to us under Section 66(1) by the INcome-tax Appellate Tribunal :-

(3.) THIS mortgage operated as a discharge of the liability of the debtor and that the appellant has received moneys worth the realisation whereof was his lookout and therefore the amount was rightly assessed to income-tax.