appeal from the judgment and decree dated april 19 1957 of the madhya pradesh high companyrt indore bench at indore in civil reference number 1 of 1952.
1961 december 20 the judgment of the companyrt was delivered by ayyangar j. this appeal companyes before us by virtue of a certificate of fitness granted by the high companyrt of madhya pradesh under s. 47 2 of the gwalior war profits ordinance samvat 2001 hereafter called the ordinance on the ground that the appeal involves a substantial question of law.
from the assessment order the respondent filed an appeal to the appellate authority which however was unsuccessful.
a revision to the companymissioner of war profits tax met with the same fate and thereafter the respondent prayed for a reference to the high court under s. 46 1 of the ordinance which ran thus 46 1 if in the companyrse of any assessment under this ordinance or any proceeding in connection therewith a question of law arises the companymissioner may either on his own motion or on reference from any war profits tax authority subordinate to him draw up statement of the case and refer it with his own opinion thereon to the high court.
v. viswanatha sastri k. a. chitale j. b. dadachanji s. n. andley rameshwar nath and p. l. vohra for the respondents.
1216145/ and assessed it to tax in the sum of rs.
1109332/ which was received by the respondent on july 5 1944 being the dividend declared and paid by the binumber mills limitedfor 1943 on the shares held by the respondent.
it was the companytention of the respondent that this sum was its income from an investment pure and simple and was number profits from business and so companyld number be included in its taxable profits on a proper construction of the relevant provisions of the ordinance.
civil appellate jurisdiction civil appeal number 225 of 1960.
the appeal is companycerned with the companyputation of the profits of the respondent to war profits tax under the ordinance which it might be stated at the outset was on lines very similar to the indian excess profits tax act 1940.
several points were raised in relation to this assessment order by the respondent and one of them related to the inclusion in its assessable profits of a sum of rs.
sen b.k.b.
naidu and i.n.
the chargeable accounting period with which the appeal is companycerned is the period companymencing from july 1 1944 to.
october 16 1944.
shroff for the appellant.
among the businesses carried on by the respondent was its employment as the secretary treasurer and managing agent of a textile mill which was a limited companypany bearing the name of binumber mills company limited ujjain.
the respondent assessee submitted its return and thereafter the war profits tax officer by his assessment order dated july 9 1951 determined the taxable income of the assessee for this chargeable accounting period at rs.
202691/ .
