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(1961) 1 MLJ 48 (Mad)
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Present : Mr. Justice Rajagopalan and Mr. Justice Ramachandra Iyer
Case Number(s) : Case Referred No. 87 of 1955. (25th Phalguna, 1881-Saka.)
Judgement Date :
Tuesday 15th of March 1960
| A. Gajapathi Naidu, Madras | .....Appellant(s) | | Versus | | | The Commissioner of Income-tax, Madras | .....Respondent(s) |
Income-tax Act (XI of 1922), section 10 — Assessee supplying bread to Government hospital under contract — Rates found to be uneconomic — Assessee maintaining accounts on mercantile basis — Government making ex gratia payment in subsequent year to compensate loss sustained by the assessee — Amount if liable to assessment to income-tax in the year in which the amount was received.
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