Case Name : D.M. Wadhwana Vs. CIT
Citation : [1966] 61 ITR 154 (cal.)
Court : Kolkata high court
Section : 43(5)
Meaning : The word ‘actual’ in explanation 2 to section 24(1) of the 1922 act means ‘real’ as opposed to ‘theoretical or probable’.
The author has spent more than 30 years in the field of taxation. Wrote four books -3 on on Indian Tax Law and 1 on US tax law for cryptocurrency. Apart from https:taxworry.com , he also writes on https://irstaxapp.com which is for US tax laws. He is a tech enthusiast and manages a cloud computing company that publishes innovative software.
