Search Results Page
Search Results
1 - 4 of 4 (0.31 seconds)The Income Tax Act, 1961
The Anglo French Textile Co. Ltd. By ... vs The Income-Tax Appellate Tribunal, ... on 9 January, 1950
3. The facts relevant to this reference have mostly been stated in our judgment in Anglo-French Textile Co. Ltd. v. Commr. of Income-tax, Madras, R. C. No. 27 of 1947: . The additional facts that have to be considered in connection with the present reference are these. The assessee concedes that all contracts with reference to the sales of goods manufactured in Pondicherry were entered into in British India. The deliveries of goods were effected and the price was received in British India. Even in respect of the sales-effected abroad it is stated in the statement of facts sent by the Tribunal that the profits were received in British India. This is a finding of fact which we have to accept for the purposes of this reference. We have already stated that the entire cotton for the mills was purchased in British India through the agent of the assessee. On these facts the Income-tax. Officer found that the assessee was a resident Company in British India within the meaning of Section 4-A (c) (b) by reason of its income arising in British India in the year of account exceeding its income arising without British India. On that basis he assessed the Company for the two assessment years 1942-43 as a resident in British India on the profits and gains which had accrued to the Company both within and without British India under Section 4 (1) (b) (i) and (ii) of the Act. The assessment was confirmed on appeal and by the Appellate Tribunal. Hence the present reference.
Section 4 in The Income Tax Act, 1961 [Entire Act]
1