1971 (7) TMI 9

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....cision of the High Court of Delhi wherein the High Court refused to call for a statement of case under section 66(2) of the Indian Income-tax Act, 1922. The material facts of the case are as follows : There was a sale of jewellery in 1937 to the Prince of Berar. The main question that fell for decision was whether the sale was by the firm known as M/s. Babu Mal & Co. or whether it was by an as....

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....that the right to collect the price of those jewellery had been assigned to their share. The Income-tax Officer rejected the plea of Kapur Chand and Hira Lal and assessed them in respect of the profits said to have arisen as a result of the sale of those jewellery as an association of persons. That order was affirmed by the Appellate Assistant Commissioner. The Tribunal, however, set aside the ord....