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TMI Blog1944 (2) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... Hon'ble the Chief Justice). Facts which have been disclosed in this Court make it clear that the assessment in this case has proceeded on a wrong basis. The assessment was made on the assessee under the first proviso to Section 41(1) the Income-tax Act. The account year is the year 1940-41 and the Assessment year 1941-42. The section was amended by Act XXIII of 1941 and the amendment came ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Imperial Act XV of 1916) the be- quest to an unborn grandson is good and it has also been accepted that if the son adopted a son after the testator's death he would be a lawful beneficiary. Before its amendment Section 41 did not apply to a testamentary trust. The amendment was made in order to bring such trusts within the purview of the section. Before the words were any trustee or trus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red is whether in the circumstances of this case the income received by the executor to the estate of Kannammai Achi was assessable at the maximum rate under Section 41(1), first proviso, of the Indian Income-tax Act, 1922, and it must be answered in this way: This section does not apply to the present assessment and therefore the assessee is not liable to be assessed at the maximum rate. We co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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