1944 (2) TMI 18

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....P. R. Srinivasan JUDGMENT (Judgment of the Court was delivered by the Hon'ble the Chief Justice). Facts which have been disclosed in this Court make it clear that the assessment in this case has proceeded on a wrong basis. The assessment was made on the assessee under the first proviso to Section 41(1) the Income-tax Act. The account year is the year 1940-41 and the Assessment year 19....

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....ct (Madras Act I of 1914) and the Hindu Disposition of Property Act (Imperial Act XV of 1916) the be- quest to an unborn grandson is good and it has also been accepted that if the son adopted a son after the testator's death he would be a lawful beneficiary. Before its amendment Section 41 did not apply to a testamentary trust. The amendment was made in order to bring such trusts within the....