Commissioner Of Income Tax vs Mahalaxmi Sugar Mills Co. Ltd.

Authority: Supreme Court Date: 1986-07-15 AY: 1956-57, 1957-58 Section: 90 Acts: Indian Income Tax Act, 1922; Double Taxation Avoidance Agreement between India and Pakistan (1947) Result: Revenue Citation: (1986) 58 CTR (SC) 138 : (1986) 160 ITR 920 (SC) : (1986) 27 TAXMAN 267 Justices: R.S. Pathak & Sabyasachi Mukharji, JJ. Appeal No: Civil Appeals Nos. 1350 & 1351 of 1974
Whether dividend income from a Pakistan company, which is wholly taxable in Pakistan under the DTAA, can be set off against business loss in India under Section 24(1) of the Indian Income Tax Act, 1922? --- Held: Yes.

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