PREMIER CONSTRUCTION CO LTD Vs. COMMISSIONER OF INCOME-TAX, BOMBAY CITY

JUDGEMENT

(1.) This is an appeal from a judgment of the High Court of Judicature at Bombay dated 27 March 1945, given upon the reference of a question of law made to the Court under S. 66 (1), Income-tax Act, by the Appellate Tribunal.

(2.) The question referred to the High Court was in the following terms: "Whether, in the circumstances of this case, that portion of the income received by the assessee from the principal company of Marsland Price and Company Limited which is proportionate to the 'agricultural income' earned by the principal company, is 'agricultural income' within the meaning of S. 2 (1), Income-tax Act, 1922, and exempt from assessment under the provisions of S. 4 (3) (viii) of the Act."

(3.) The High Court answered this question in the negative, taking the same view of the law as had been taken by the Income-tax Officer, the Appellate Assistant Commissioner of Income-tax, Bombay, and the Income-tax Appellate Tribunal. Their Lordships have no doubt that the view unanimously held by the Tribunals in India is correct.