1987 (7) TMI 146

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....following question which is said to arise out of its order dt. 29th May, 1986 for opinion of the Hon'ble High Court under s. 256(1) of the IT Act: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in allowing the set off of loss suffered by the assessee's wife in the firm in which the assessee and his wife were partners, against the income of the assesse....

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....ee and reversed the finding of the ITO. The second appeal by the Department was dismissed by the Tribunal relying upon the earlier decision in ITA No. 611/Chd/80 decided on 17th Sept., 1982. 3. The Department was moved this reference application. Two points were urged by Shri D.K. Gupta the ld. counsel for the assessee. One was that w.e.f. 1st April, 1980 the legislature has introduced Expln. 2....