T SADASIVAM Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference under section 66(1) of the Income Tax Act, 1961, the question referred to our decision being

(2.) THE assessee, T. Sadasivam, is an individual who has succeeded to the business of Chandra Prabha Cinetone, but the entire proceedings have gone on the footing that it was the tax liability of the Chandra Prabha Cinetone that was being adjudicated and in consequence when any reference is made to the assessee, it is the Chandra Prabha Cinetone that is intended.

(3.) THE agreement then proceeds to deal with the commission to which the party of the second part would be entitled and then clause 11 provides :