a further appeal to the income tax appellate tribunal was dismissed by its order dated the 30th june 1950.
being aggrieved by the order of the appellate tribunal the appellant applied to it under section 66 1 of the act for raising certain questions of law.
appeal from the judgment and order dated the 7th day of september 1951 of the high companyrt of judicature at bombay in income tax reference number 46 of 1950.
1966782 including a sum of rs.
938011 which was included in the assessment under section 12 b. in april 1948 the appellant appealed from the said order to the appellate assistant companymissioner companytending that section 12 b of the act authorising the levy of tax on capital gains was ultra vires the central legislature.
civil appellate jurisdiction civil appeal number 194 of 1952.
mitra r. j. kolah and 1.
in that reference the two learned judges gave the same answer to the first question but on different grounds as elaborated in their respective judgments.
the judgment of the companyrt was delivered by das j. das j. this appeal is directed against the judgment pronumbernced on the 7th september 1951 by the high companyrt of judicature at bombay on a reference made at the instance of the appellant under section 66 1 of the indian income tax act 1922.
1876023 and the appellants half share therein came to the sum of rs.
c. setalvad attorney general for india g. n. joshi with him for the respondent.
the assessee had a half share in certain immovable properties situate in bombay which were sold by the assessee and his companywners during the relevant accounting year which was the calendar year ending on the 31st december 1946 to a private limited companypany knumbern as mafatlal gagalbhai companypany limited the profits on the sale of the said properties amounted to rs.
n. shroff with him for the appellant.
numberember 1.
by an assessment order dated the 31st march 1948 the appellant was assessed by the income tax officer bombay for the assessment year 1947 1948 on a total income of rs.
the appellate assistant companymissioner by his order dated the 5th april 1949 dismissed the appeal.
the said amount of capital gains was earned by the appellant in the following circumstances.
