difference of opinion

As per the letter of the Central Government dated 9-7-1973, all State-controlled Educational Committee(s) /Board(s) have been constituted to implement the Educational policy of the States(s), consequently, they should be treated as Educational Institution within the meaning of section 10(22). Full Article

If the business is carried on by the firm, then whether it is disclosed income or undisclosed income, is to be assessed in the hands of the firm and not in the hands of the partners; there is no machinery to assess the income of the firm in the hands of the partner, merely because it is not disclosed in the accounts of the firm; such assessment in the hands of the partner can not be justified merely because the income is pocketed by the partner. Full Article