1965 (10) TMI 4

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....in-trade of the money-lending business of the assessee or constituted capital. The matter relates to the assessment year 1957-58. The assessee is a firm carrying on money-lending business in Ceylon owning properties there. The members of the firm once formed a Hindu undivided family, along with a certain person called Sattappa. The family, as it is said, carried on a business in money-lending and ....

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.... constituted part of the stock-in-trade of the money-lending business. On that view, the sum of Rs. 23,992 was included in the chargeable income. On a direction by this court, the Tribunal has submitted the following question for our answer : " Whether, on the facts and in the circumstances of the case, the Tribunal had any material to hold that the properties were stock-in-trade of the money-le....