JUGGILAL KAMLAPAT Vs. COMMISSIONER OF INCOME TAX U P

JUDGEMENT

(1.) THE following Judgment of the courtwas delivered by:

(2.) THESE appeals arebrought by special leave from the judgment of the Allahabad High court dated 10/07/1962 in Income Tax Miscellaneous Cases Nos. 255 and 256 of 1955.

(3.) IT is apparent from this constitution that the shares of the three Singhania brothers, their wives and childrenin J. K. Commercial Corporation Ltd.were 6600 'A' Class ordinary shares outof 8580 and 11,000.00 out of 15,000.00 'B' Classordinary shares. The remaining shareswere allotted to the Personal Assistantto Sri Padampat Singhania, a Munim ofthe firm of Juggilal Kamlapat, a Directorof the managed company, one S. D.Garg and to a Director of an allied concern.