1967 (7) TMI 54

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....to the assessment years 1952-53 and 1953-54, raise subtantially the same questions as to the character of Rs. 15,000 that accrued to the assessee in each of the assessment years but recovered after a judgment of the Supreme Court was delivered on April 22, 1958. On May 22, 1950, the assessee entered into an agreemen with one Solaiyappa Chettiar of Pallathur to purchase a tile factory with the name....

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....e Supreme Court; which restored the decree of the trial court and directed that there would be a decree for mesne profits against such of the respondents as might have been in possession of the property except during the period it was in the custody and management of the receiver appointed by the trial court. The assessee was declared to be entitled to the net sum collected by the receiver during ....

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....t of the Supreme Court. The objections of the assessee that the identical amount has suffered tax in the hands of Kotchu Wareed and that in any case the receipt was in the nature of damages and could not be regarded as income were overruled both by the revenue and the Tribunal. The Tribunal's view was that when the Supreme Court awarded the mesne profits, it was on the basis that the assessee was ....

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....ed to them. The income, therefore, was that of the assessee and was liable to charge in his hands. He is not relieved of his liability, because the income was included in the assessment of a person who would not be entitled to that income, and, therefore, not liable to tax thereon. Obviously, therefore, this is not a case of double taxation. It is not the case of the assessee that he has borne the....