https://www.taxtmi.com/caselaws?id=49647 The Supreme Court dismissed the appeals, upholding the findings that the forward contracts were made in Bombay, making the profits taxable under the Indian Income-tax Act, 1922. The Court ruled that the evidence supported the conclusion that the contracts were not genuine transactions made in Gwalior. The respondent was awarded costs in Civil Appeal No. 204 of 1954, while the parties were to bear their own costs in Civil Appeal No. 163 of 1958. en-us Wed, 21 May 1958 00:00:00 +0530 Fri, 05 Sep 2014 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49647 The Supreme Court dismissed the appeals, upholding the findings that the forward contracts were made in Bombay, making the profits taxable under the Indian Income-tax Act, 1922. The Court ruled that the evidence supported the conclusion that the contracts were not genuine transactions made in Gwalior. The respondent was awarded costs in Civil Appeal No. 204 of 1954, while the parties were to bear their own costs in Civil Appeal No. 163 of 1958. Case-Laws Income Tax Wed, 21 May 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49647