1934 (12) TMI 17

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....sion. The Commissioner has, in a lengthy order, set out the facts in great detail and it will not be necessary for us to recapitulate all of them. The first two questions, on the facts stated, scarcely arise, and if it is necessary to give any answers to them, those proposed by the Commissioner may be accepted. The third question put was: Are the assessees entitled to set of the loss in the firm....

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....four brothers and a fifth brother Megh Raj. There have been losses in it and the four brothers wished to set off their losses on that account against the profits returned as theirs in the other account. Their case was that their mother gave them a four-fifths share in the Arjan Das Sada Sukh business and gave Megh Raj a one-fifth share. The evidence produced before the Income Tax authorities was a....