MAGANLAL SANKALCHAND Vs. COMMISSIONER OF INCOME-TAX

JUDGEMENT

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

(2.) THE assessee is a Hindu undivided family. The assessment year is 1950 -51 and the relevant accounting year the assessee was a share -holder of the Associated Stone Industries (Kotah) Ltd. Ramganjmandi, (hers inafter referred to as the Company). The assessee received from the Company a divided of Rs. 1,73,839/ - declared by the said Company on 29.9.1949 out of its profits for the year ended 30.9,49. The assessee had income from other sources also.

(3.) THE assessee preferred an appeal to the Appellate Assistant Commissioner, who by his order dated 15th October, 1954, confirmed the order of the Income -tax Officer.