ANNAMALAI REDDIAR Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This is a reference by the Income Tax Appellate Tribunal, Madras bench, under S.66(2) of the Indian Income tax Act, 1922. The assessment year with which we are concerned is 1954-55; and the accounting period, the Malayalam year 1128 (17-8-1952 to 16-8-1953).

(2.) The peak credit - on 6-1-1953 - in the anamath account of the assessee was Rs. 13,865/-. The Income Tax Officer rejected his explanation regarding the entries in that account and assessed the said sum as his income from other sources. The Appellate Assistant Commissioner agreed with the Income Tax Officer and confirmed the conclusion. The Appellate Tribunal treated the amount not as income from other sources but as income from the assessee's business itself.

(3.) The first and the second questions referred to us relate to the sum of Rs. 13,865/- and read as follows: