https://www.taxtmi.com/caselaws?id=49640 The court dismissed the appeal, holding that the appellant was chargeable to tax under Section 42(2) of the Indian Income-tax Act, 1922. The court found that the business of the resident (appellant) was the subject of taxation, and the non-resident companies were carrying on business with the appellant. The profits chargeable under Section 42(2) did not need to be separately assessed. The appeal was dismissed with costs. en-us Mon, 12 May 1958 00:00:00 +0530 Fri, 05 Sep 2014 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49640 The court dismissed the appeal, holding that the appellant was chargeable to tax under Section 42(2) of the Indian Income-tax Act, 1922. The court found that the business of the resident (appellant) was the subject of taxation, and the non-resident companies were carrying on business with the appellant. The profits chargeable under Section 42(2) did not need to be separately assessed. The appeal was dismissed with costs. Case-Laws Income Tax Mon, 12 May 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49640