1937 (3) TMI 21 - HC - Income Tax

Summary

The High Court of Rangoon ruled that profits made in Ceylon on the sale of rice purchased in Burma by an assessee residing outside British India are assessable under Sec. 42(1) of the Indian Income-tax Act. All profits accruing through a business connection in Burma are deemed to be income arising within British India and are chargeable to income tax. Leach and Mackney, JJ., agreed with the judgment.