https://www.taxtmi.com/caselaws?id=290235 The High Court had jurisdiction to compel the Chief Revenue Authority to state a case under Section 51 of the Indian Income Tax Act, 1918. It was held that the Authority had a duty to state a case if a serious point of law arose, and failure to do so would be a breach of statutory duty. The Court determined that profits intended for business expansion should be treated as capital, emphasizing the importance of proper adjudication on this legal issue. The appeal was allowed, converting the Rule nisi into an order absolute, with costs awarded to the appellants. en-us Thu, 07 Jun 1923 00:00:00 +0530 Wed, 16 Sep 2020 10:21:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290235 The High Court had jurisdiction to compel the Chief Revenue Authority to state a case under Section 51 of the Indian Income Tax Act, 1918. It was held that the Authority had a duty to state a case if a serious point of law arose, and failure to do so would be a breach of statutory duty. The Court determined that profits intended for business expansion should be treated as capital, emphasizing the importance of proper adjudication on this legal issue. The appeal was allowed, converting the Rule nisi into an order absolute, with costs awarded to the appellants. Case-Laws Income Tax Thu, 07 Jun 1923 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290235