BEHARI LAL BHARGAVA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference under Section 66(2) of the Income-tax Act (XI of 1922)

(2.) THE assessee is Behari Lal Bhargava, proprietor of the Central Book Depot, at Allahabad. For the assessment year 1937-38 the Income-tax Officer assessed him to tax upon an income of Rs. 11,604. THE account of profits and loss was as follows :