COMMISSIONER OF INCOME TAX Vs. BUCKINGHAM AND CARNATIC COMPANY LIMITED

JUDGEMENT

(1.) THIS is an appeal by the Commissioner of Income-Tax from a judgment and order of the High Court of Judicature at Madras dated May 2, 1934, whereby the High Court, upon the hearing of a case referred to it by the appellant under the provisions of the Indian Income-tax Act, 1922 (XI of 1922), answered certain questions of law raised thereby adversely to the contentions of the appellant.

(2.) THE questions of law referred to the High Court arose in the course of the assessment of the profits and gains of the business of the respondent company for the tax year beginning on April 1, 1931.

(3.) THE Buckingham and Carnatic Company, Limited, (hereinafter referred to as " the company ") is a public limited company which was incorporated on November 29, 1920, under the Indian Companies Act, 1913.