R DALMIA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The following question has been referred to this Court by the Income-tax Appellate Tribunal (Delhi Bench) B' under ction 66(1) of the Income-tax Act, 1922.

(2.) The assessee is Shri R. Dalmia. The assessment year is 1955-56. The previous year ended on 30-19-1954.

(3.) Bharat Union Agencies Private Limited, a private limited company had spent a sum of Rs. 53,398.00 to meet the personal necessities of the assessee during the previous year without charging for the same. The assessee was not a director of the company although he was the beneficial owner of 1800 equity shares out of the total of 5000 equity shares in the said company during the previous year.