https://www.taxtmi.com/caselaws?id=6492 An undefined fiscal expression must be construed in its ordinary popular sense in the statutory context, rather than by importing a restricted technical meaning from other legislation. On that approach, "a company whose business consists wholly or mainly in holding of investments" under section 23A of the Indian Income-tax Act, 1922, is wide enough to include a company whose principal income is derived from house property leased to tenants. The Court held that the context of section 23A, together with its legislative history and later developments, supported this broader construction. The assessee-company was therefore correctly treated as one falling within the provision, and the appeals failed. en-us Thu, 14 Oct 1976 00:00:00 +0530 Fri, 05 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6492 An undefined fiscal expression must be construed in its ordinary popular sense in the statutory context, rather than by importing a restricted technical meaning from other legislation. On that approach, "a company whose business consists wholly or mainly in holding of investments" under section 23A of the Indian Income-tax Act, 1922, is wide enough to include a company whose principal income is derived from house property leased to tenants. The Court held that the context of section 23A, together with its legislative history and later developments, supported this broader construction. The assessee-company was therefore correctly treated as one falling within the provision, and the appeals failed. Case-Laws Income Tax Thu, 14 Oct 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6492