MALAYALAM PLANTATIONS LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference by the Income-tax Appellate Tribunal, Madras Bench, under section 66(1) of the Indian Income-tax Act, 1922. The reference relates to the assessment years 1122 M.E. and 1124 M.E. The accounting periods concerned are the twelve months ended on March 31, 1946, and March 31, 1948, respectively.

(2.) WHAT was brought into the Travancore State was the profit which the assessee had already received in British India. As pointed out by the Supreme Court in Keshav Mills Ltd. v. Commissioner of Income-ta :

(3.) THE only further point that has to be decided relates to a sum of Rs. 11,500. THEre is no separate consideration of this amount by the Income-tax Appellate Tribunal probably because no separate argument was advanced regarding that sum.