High Court rules pranami receipts as casual income exempt under Income-tax Act

The High Court of Patna ruled in favor of the assessee, Dr. P. R. Chakravarty, holding that the receipts of pranamis were casual and non-recurring, thus exempt under section 10(3) of the Income-tax Act, 1961. Each party will bear their own costs.

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The High Court of Patna ruled in favor of the assessee, Dr. P. R. Chakravarty, stating that the receipts of pranamis were casual and non-recurring, and therefore exempt under section 10(3) of the Income-tax Act, 1961. The decision was based on previous court rulings. Each party will bear their own costs.

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