COMMISSIONER OF INCOME TAX Vs. THOMAS LESLIE MARTIN

JUDGEMENT

(1.) ON an application of the Revenue under s. 66(2) of the Indian IT Act, 1922, the Tribunal as directed has referred the following questions of law arising out of its order for the opinion of this Court ?

(2.) AS noted above, the assessment years involved are 1959-60 and 1960-61, the accounting years ending on March 31, of the calendar years 1959 and 1960.

(3.) ON an appeal by the assessee, the AAC found that in each of the two years involved, the assessee had a convertible surplus, even after meeting his tax liabilities, out of his income from dividend and on that ground the appeal of the assessee was allowed.