Appeal by Special Leave from the Judgment and Order dated the 15th March, 1955, of the Income tax Appellate Tribunal of India, Calcutta in I. T. A. No.
In that year, the profits from the sale of gunnies, mustard and jute amounted to Rs.
The Company has number, with special leave, appealed against the order of the Tribunal reversing the decision of the Appellate Assistant Commissioner and also against the order of the High Court declining to call for a statement of the case.
N. Rajagopal Sastri and D. Gupta for the Respondent.
13,43,069, which had been brought forward from the previous year.
During the same accounting year, the sugar business resulted in a loss of Rs.
These principles were stated by Rowlatt, J. in Scales v. George Thompson Co. Ltd. 1 .
On appeal to the Appellate Assistant Commissioner, the companytention of s the Company was accepted.
This companytention was number accepted.
In the accounting year ending August 31, 1947, companyresponding assessment year being 1948 49 , the Company did business in mustard seeds, gunnies and Hessian and made profit.
6,14,018.
The first is directed against ,.an order of the Income tax Appellate Tribunal, Calcutta Bench dated March 15, 1955, and the other, against an order of the Calcutta High Court dated April 27, 1956, declining to ask for a statement of the case under s. 66 2 of the Indian Income tax Act.
The companytention of the Company was that these losses were of the same business, and that s. 24 2 of the Indian Income tax Act applied.
November 17.
The Judgment of the Court was delivered by HIDAYATULLAH, J. These are two companysolidated appeals by special leave.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
For the first few years, the Company carried on the business of manufacture and sale of sugar only.
9 of 1956.
After this assessment year, the Company ceased to have any business other than the manufacture and sale of sugar We are companycerned with the assessment year 1948 49, companyresponding to the accounting year ending August 31, 1947.
This Company was incorporated in 1934, and was established to take over some sugar mills run by a firm.
Included in the objects for which the Company was established was the business of buyers, sellers and dealers in jute, gunnies, oil seeds, etc.
143 of 1958.
In the next accounting year ending August 31, 1946, the Company made also a profit in transactions in gunnies and jute.
Some of the business was done by purchases or sales in the territory number in Pakistan.
In the accounting year ending August 31, 1945, the Company had some transactions in gunnies and made a profit.
A. Palkhivala In both the Appeals and B. P. Maheshwari for the Appellants.
Appeal by Special Leave from the Judgment and Order dated the 27th April, 1956, of the Calcutta High Court in Income tax Matter No.
The facts are as follows Setabgunj Sugar Mills, Ltd., is the appellant.
144 of 1958.
4309 of 1954.
Civil Appeal No.
