https://www.taxtmi.com/caselaws?id=29153 The High Court ruled in favor of the respondent-assessee, allowing the deduction for the sum of Rs. 1,44,229 for the assessment year 1962-63. The Court upheld the Tribunal's findings that the loss was connected to the normal business activities of the assessee as commission agents, which included money-lending and commission business with intermingling of funds. The High Court agreed that the assessee maintained only one business with intertwined activities, supporting the deduction claim. The Commissioner was directed to pay costs to the respondent-assessee, including the advocate's fee. en-us Tue, 31 Jul 1979 00:00:00 +0530 Thu, 11 Mar 2010 11:42:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29153 The High Court ruled in favor of the respondent-assessee, allowing the deduction for the sum of Rs. 1,44,229 for the assessment year 1962-63. The Court upheld the Tribunal's findings that the loss was connected to the normal business activities of the assessee as commission agents, which included money-lending and commission business with intermingling of funds. The High Court agreed that the assessee maintained only one business with intertwined activities, supporting the deduction claim. The Commissioner was directed to pay costs to the respondent-assessee, including the advocate's fee. Case-Laws Income Tax Tue, 31 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29153