The respondent is an association of persons whose business is to hold race meetings in Calcutta on a companymercial basis.
The school, however, did number prove a success and after having been in existence for three years it was closed down.
Appeal by special leave from the judgment and order dated August 20, 1957, of the Calcutta High a Court in Income tax Reference No.
62,818 on the running of its school and claimed that amount as a deduction under s. 10 2 xv of the Income tax Act and also in the assessment under the Business Profits Tax for the chargeable accounting period ending March 31, 1949.
The Commissioner is the appellant before us and the assessee is the respondent.
This claim was disallowed by the Income Tax Officer and on appeal by Appellate Assistant Commissioner and also by the Income tax Appellate Tribunal.
1 of 1956.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
During the year ending March 31, 1949, the respondent spent a sum of Rs.
The Judgment of the Court was delivered by KAPUR, J. This is an appeal by special leave against the judgment and order of the High Court of Judicature at Calcutta in a reference made by the Income tax Appellate Tribunal under s. 66 1 of the Income tax Act.
November 28.
Hardyal Hardy and D. Gupta, for the appellant.
which was answered in favour of the respondent.
419 of 1958.
C. Chatterjee, Dipak Choudhri and B. N. Ghosh, for the respondent.
For these reasons the expenditure was disallowed.
61,818 spent by the assessee to train Indian boys as jockeys, did number companystitute expenses of the business of the assessee allowable under s. 10 2 xv ?
The following question was referred Whether in the facts and circumstances of this case, the Appellate Tribunal was right in holding that Rs.
It also found that the respondent had been companyducting race meetings since long, that it was number the case of the assessee that if it did number train jockeys they would become unavailable and that the mere policy of producing efficient Indian jockeys was number a sufficient companysideration for treating the expenditure as one incurred for the business of the respondent.
