NEW PIECEGOODS BAZAR COMPANY LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference under Section 66(1) of the Indian Income-tax Act and raises a short though important point with regard to the computation of the figure to he included in respect of, "income from property," under Section 9 of the taxation statute.

(2.) THE matter originally came before my learned brother Kania and myself on September 22, 1944, and having regard to the general importance of the point raised, we sent the matter back to the Tribunal and asked them to frame a further question, in order to cover all the arguments which the assessee desired to raise.

(3.) THE further question which has now been submitted, and which can be conveniently called question No. 3, is: