KRISHNA WARRIER P Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference by the Tribunal, Madras Bench, acting under s. 66(1) of the Indian IT Act, 1922. The questions referred are :

(2.) THE years of assessments are four, 1957-58 to 1960-61. It is conceded on behalf of the assessee that questions Nos. 1 and 2 have to be answered in the affirmative, that is, against the assessee and in favour of the Department. We do so.

(3.) COUNSEL on behalf of the Department has stressed that the trustee in this case has been assessed under s. 41 of the Indian IT Act, 1922, and he invited our attention to a passage from the Commentary on the Indian IT Act, 1922, by Kanga and Palkhivala, fourth edition, at page 731.