While assessing the appellant the Income tax Officer set off the loss in the appellants Madras business against the foreign income and assessed him at the maximum rate as the appellant had number filed a declaration in terms of the proviso to s. 17 1 .
8,484/ in his own business at Madras.
Appeal by special leave from the judgment and order dated June 30, 1965 of the Madras High Court in Tax Case No.
The appellant was a numberresident individual.
The appellant had also incurred a loss of Rs.
Srinivasan and T. A. Ramachandran, for the appellant.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
710 of 1967.
The entire income of that firm for the assessment year in question accrued outside India.
During the previous year ending April 12, 1956 relevant to the assessment year 1956 57, he was a partner of a registered resident firm which carried on money lending business in India and Malaya.
The Judgment of the Court was delivered by Grover, J. This is an appeal by special leave against a judgement of the Madras High Court rendered in its advisory jurisdic tion in a case stated unders s. 66 1 of the Income tax Act, 1922, hereinafter referred to as the Act.
114 of 1962.
Jagadish Swarup, Solicitor General, G. C. Sharma and B. D. Sharma, for the respondent.
The appellants share in the income of the firm came to Rs.
The High Court answered the questions referred against the assessee on the ground that the points were companyered by its previous decision in Gnanam Sons v. Commissioner of Income tax, Madras 1 .
62,612/ the whole of which was foreign income.
