Judgement

Appeal (No. 63 of 1945) from a judgment and order of the Federal Court of India (in its civil appellate jurisdiction (March 27, 1944) which reversed a judgment and decree of a Special Bench of the High Court at Calcutta (in its ordinary original civil jurisdiction) (April 9, 1943).

The following facts are taken from the judgment of the Judicial Committee The appellant was a joint stock company incorporated in the Isle of Man, having its registered office in that island, and its main office in England. At all material times it held the bulk of the shares in eleven companies, carrying on business in British India. Two of those companies were incorporated in British India, having their registered offices and headquarters in Calcutta. The nine remaining companies (called the sterling companies) were, as to some of them, incorporated in the Isle of Man and, as to the rest, incorporated in England. The business of the sterling companies in India was managed by local boards, but the ultimate control lay with the London boards. The meetings of the sterling companies were held in England. All the dividends that were received by the appellant from the sterling companies were declar