RAJKUMAR MILLS LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) AT the instance of the assessee four questions are referred to us for our determination under S. 66 (1) of the Indian IT Act, 1922. Questions Nos. 1 to 3 out of these four questions relate to one set of facts and question No. 4 relates to the next set of facts. Questions Nos. 1 to 3 relate to the asst. yrs. 1943 44 to 1946 47, for which the relevant previous years are calendar years 1942 to 1945. The first set of three questions relates to the application of S. 4(1)(a) of the Act. These questions refer to the receipts of certain sale proceeds as given below :

(2.) QUESTION No. 1 is in reference to the figures which are set out in column (a) of the above table and is as under :

(3.) WITH regard to the items (other than item 1(b)) totalling Rs. 16,03,437, Rs. 17,91,759 and Rs. 19,828, the assessee mill entered into contracts with the purchasers who were in British India. The contracts were executed at Indore. The goods were appropriated at Indore with the consent of the purchasers and put on rail for transmission to the buyers. The contracts with each of the buyers were in the same form with the only difference as to quantity and other similar particulars. Clause 5 of the contract provided as under :