Bombay H.C : the limit of Rs. 40,000 laid down in section 37(3A) of the Income-tax Act, 1961, could not be proportionately increased because the previous year relevant for the assessment year was seventeen months instead of twelve months
High Court Of Bombay Somaiya Organo-Chemicals Ltd. vs. CIT Section 37(1) Assessment Year 1980-81 M.S. Sanklecha And S.C. Gupte, JJ. […]