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TMI Blog1939 (10) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... nce made by the Commissioner of Income-tax under Section 66(2) of the Act raising a question which does not, I think, present any serious difficulty. The facts are, that the assessees are rice merchants carrying on business in Bombay and Rangoon, the Head office being in Bombay and the Branch office in Rangoon, and down to the 31st March, 1937. Burma was part of British India, but it ceased to be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax for the year of assessment on the actual income of the previous year, it seems to me plain that you must take the facts as they existed during that previous year; otherwise you are not ascertaining the actual income of the previous year, you are only ascertaining what would have been the income of the previous year if the facts had been as they existed in a subsequent year. On the facts as the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y their Burma accounts in view of the fact that though from the commencement of the year of assessment, Burma ceased to be a part of British India, during the "previous year" of the assessees in which the said loss was sustained Burma was part of British India." And the answer will be in the affirmative. The second question does not arise. Costs to be paid by the Commissioner. Kan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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