1924 (12) TMI 3

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..... to be taken into account in an assessment for income-tax purposes , in the affirmative. There is no ground for saying that the profits arising from an illegal business are not taxable. There is not a word in the Act to suggest anything of the kind, arid it is a fallacy to say because the taxing authority levies from a person who is carrying on a profitable business, but an improper and illegal bu .....

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..... ax shall be payable under the head of professional earnings in respect of the profits of any vocation followed by the assessee. In the year 1886 the English Courts decided and the decision has never been called in question, that a bookmaker attending a race course was carrying on a vocation; Patridge v. Mallandaine 56 L.J.Q. 251. Where both the words business and vocation are used, it may be a .....

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..... an enormous burden being placed upon the Income-Tax authorities, namely of deciding in every single transaction, which appeared in the books of any as sessae in their jurisdiction to be of a speculative nature, whether it was a gaming transaction within the meaning of the Contract Act, and, therefore, against public policy. That question is an extremely difficult question to decide in many cases. .....

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