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(1964) 2 MLJ 74 (Mad)
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Present : Mr. S. Ramachandra Iyer, Chief Justice and Mr. Justice K. Srinivasan
Case Number(s) : T.C. No. 179 of 1961.
Judgement Date :
Friday 03rd of January 1964
| A. Lakshmanan | .....Appellant(s) | | Versus | | | Commissioner of Income-tax, Madras | .....Respondent(s) |
Income-tax Act (XI of 1922) — Capital or income — Test — Foreign remittance — Sale-proceeds of foreign assets — Receipt on return to taxable territories — Whether taxable.
Capitalisation of Income — Tests for — When a mere devise for tax avoidance — Duration of enjoyment of capitalized assets — Whether to be ignored.
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