https://www.taxtmi.com/caselaws?id=39506 The court affirmed the disallowance of interest deductions in both references, citing a previous decision against the assessee. Regarding the determination of income, the court rejected the assessee's argument that only income shown in the trust's books should be taxed, emphasizing the need to ascertain real income as per the Income-tax Act, considering permissible deductions. The court answered questions against the assessee in both references, granting leave to appeal to the Supreme Court due to substantial legal issues involved. en-us Tue, 27 Aug 1974 00:00:00 +0530 Fri, 16 Apr 2010 18:04:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39506 The court affirmed the disallowance of interest deductions in both references, citing a previous decision against the assessee. Regarding the determination of income, the court rejected the assessee's argument that only income shown in the trust's books should be taxed, emphasizing the need to ascertain real income as per the Income-tax Act, considering permissible deductions. The court answered questions against the assessee in both references, granting leave to appeal to the Supreme Court due to substantial legal issues involved. Case-Laws Income Tax Tue, 27 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39506