The facts of the case lie within a narrow companypass.
52,280.
One Mohideen Kunju was managing the affairs of the assessee.
2,40,792.29 as on December 31, 1959.
For the previous year ending on December 31, 1959, he returned an income of Rs.
The assessee carried on business as tin fabricator and oil miller.
The assessee had obtained key loans and over drafts from the Canara Bank Ltd. As per the balance sheet of the assessee as on December 31, 1959, the total amount due to the Canara Bank Ltd. was Rs.
11 of 1967 on its file.
S. Hegde, J. This is an appeal by special leave from the judgment of the High Court of Kerala in Income tax Referred Case No.
