COMMISSIONER OF INCOME TAX KERALA Vs. JOSEPH JOHN

JUDGEMENT

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

(2.) THESE appeals are brought, by special leave, on behalf; of the Commissioner of Income-tax, Kerala, from the judgment of the Keralal High court dated 5/04/1962, in R. As. Nos. 1089-1090 of 1958-59. <PG>75</PG>

(3.) THEREUPON the President made a reference under section 5A(7) of the Act to three other Members of the tribunal including himself. All the three <PG>76</PG> members agreed with -the Judicial Member and held that the two sums mentioned are not deductible as business losses under section 10 of the Act. At the instance of the assessee, the Appellate tribunal referred the following questions of law for the opinion of the High court under section 66(1) of the Act: