https://www.taxtmi.com/caselaws?id=291827 The proviso to Section 55 of the Income-tax Act, 1922 was construed contextually to avoid double taxation of the same profits. Although a statutory term is ordinarily used consistently within a section, the court held that the word "individual" in the proviso could bear a wider meaning where the scheme and object of the provision required it. Read with the words "having a share in the firm," it included a Hindu undivided family as a partner in an unregistered firm. The practical effect was that the assessee was not liable to super-tax on the share of profits already covered by the proviso. en-us Fri, 30 Nov 1934 00:00:00 +0530 Wed, 25 Nov 2020 16:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291827 The proviso to Section 55 of the Income-tax Act, 1922 was construed contextually to avoid double taxation of the same profits. Although a statutory term is ordinarily used consistently within a section, the court held that the word "individual" in the proviso could bear a wider meaning where the scheme and object of the provision required it. Read with the words "having a share in the firm," it included a Hindu undivided family as a partner in an unregistered firm. The practical effect was that the assessee was not liable to super-tax on the share of profits already covered by the proviso. Case-Laws Income Tax Fri, 30 Nov 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291827