V N M ARUNACHALA NADAR Vs. COMMISSIONER OF EXCESS PROFITS TAX MADRAS

JUDGEMENT

(1.) JUDGMENT The judgment of the court was delivered by

(2.) THESE five appeals arise from two references made by the Income-tax Appellate Tribunal, Madras bench, under section 66(2) of the Income-tax Act, 1922, to the High court of Judicature, Madras. The assessee in the two cases thus referred is the same but the points referred are different and the accounting years are also not the same. The assessee is V. N. M. Arunachala Nadar. In Reference No. 68 of 1953 question referred to the High court was under section 8(1) of the Excess Profits Tax Act. This question has been thus stated: