https://www.taxtmi.com/caselaws?id=49704 Section 42(1) of the Indian Income-tax Act, 1922 was held to apply in general terms, so its deeming fiction was not confined to non-residents and could operate against a resident assessee. The provision, read with Sections 4 and 14 and supported by its amendment history, showed legislative intent to treat income arising from a business connection in British India as income deemed to accrue or arise there. The marginal note could not limit the plain statutory language. The referred question was answered in the affirmative, in favour of the Revenue and against the assessee. en-us Fri, 18 Dec 1953 00:00:00 +0530 Wed, 10 Sep 2014 08:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49704 Section 42(1) of the Indian Income-tax Act, 1922 was held to apply in general terms, so its deeming fiction was not confined to non-residents and could operate against a resident assessee. The provision, read with Sections 4 and 14 and supported by its amendment history, showed legislative intent to treat income arising from a business connection in British India as income deemed to accrue or arise there. The marginal note could not limit the plain statutory language. The referred question was answered in the affirmative, in favour of the Revenue and against the assessee. Case-Laws Income Tax Fri, 18 Dec 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49704