February 2004

Section 48, Section 49

Delhi H.C : Whether, on the facts and in the circumstances of the case, the assets recovered by virtue of the decree of the High Court dt. 29th June, 1967, was in satisfaction of the loan of Rs. 5,00,000 inclusive of interest allegedly due to the assessee from the partnership and it became a part of the stock-in-trade of the assessee?

High Court Of Delhi Delhi Safe Deposits Co. vs. CIT Sections 48, 49 Asst. Year 1968-69, 1970-71 B.C. Patel, C.J.

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