The appellant raised a preliminary objection to this question being raised for the first time before the companyrt, on the ground that it did number arise out of the order of the Tribunal, having been neither raised before it number dealt with by it, and that further it had number been referred to the companyrt.
The High Court under section 66, clause 5 , of the Income tax Act has to record its opinion on the questions arising out of the order of the Tribunal and number numberthe arguments pro and company advanced before the Tribunal.
In my view, the High Court had jurisdiction on the question arising out of the order of the Tribunal and referred in deciding that the Act which made the amount taxable was number in operation at the material date.
20,00,000 on 17 July, 1944, Rs.
9,26,532 was properly included in the assessee companypanys total income companyputed for the assessment year 1946 47 ?
The reference came up for hearing before a Bench of the Bombay High Court companysisting of Chagla, C.J., and Tendolkar, J., and then the respondents raised the companytention that the proviso to section 10 2 vii under which the charge was made companyld number be taken into account in making the present assessment, as the same had been introduced by the Income tax Amendment Act, 1946 VII of 1946 , which came into force on May 4, 1946, whereas the liability of the companypany to be taxed fell to be determined as on April 1, 1946, when the Finance Act, 1946, came into force.
23,00,000 on December 22, 1944, and Rs.
The original companyt of the ship was Rs.
By its order dated February 9, 1954, the Tribunal referred the following question for the opinion of the companyrt Whether the sum of Rs.
Under section 66 4 the High Court can, for the purpose of disposing of the reference which companyes to it under section 66 1 and 2 , call for additional statement from the Tribunal.
33,333 on 10 August, 1946.
That was requisitioned by the Government during the last world war, and was lost by enemy action on 16 March, 1944.
It is against this decision that the present appeal by special leave is directed.
Venkatarama Aiyar, J. The respondents were the owners of a steamship called El Madina.
