Appeal by special leave from the judgment and order dated December 21, 1955, of the Calcutta High Court in Income tax Reference No.
The question of law referred to the High Court was Whether on the facts and in the circumstances of the case, and on a true companystruction of the Trust Deed, dated 16th September, 1948, and the Policy dated the 13th January, 1949, the payments made by the assessee Company and referred to in paragraph 4 above companystitute expenditure within the meaning of that word in section 10 2 xv of the Indian Income tax Act, 1922, in respect of which a claim for deduc tion can be made,subject to the other companyditions mentioned in that clause being satisfied .
15 of 1954.
C. Setalvad, Attorney General for India, R. Ganapathy Iyer, B. H. Dhebar and D. Gupta, for the respondent.
395 of 1957.
15 of 1954.
1,09,643 and further undertook to pay annually Rs.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
The Judgment of the Court was delivered by HIDAYATULLAH, J. The Indian Molasses Co. Private Ltd., Calcutta hereinafter called the assesses Company , have brought this appeal, with the special leave of this Court granted on November 9, 1956, against the judgment of the High Court of Calcutta dated December 21, 1955, in Income tax Reference, No.
C. Sampath Iyengar, Dipak Dutta Choudhury and B. N. Ghosh, for the appellant.
The question was answered in the negative.
On September 16, 1948, the Company executed a Trust Deed in favour of three trustees to whom the Company paid a sum of pound 8,208 19 0 Rs.
He had by then served the Company for 13 years, and was due to retire at the age of 55 years on September 20, 1955.
The facts of the case are as follows One John Bruce Richard Harvey was the Managing Director of the assessee Company in 1948.
There was, it appears, an agreement by which the Company was under an obligation to provide a pension to Harvey after his retirement.
May 5.
