CHAKRAVARTTI C. J.

( 1 ) THERE are two References before us which are really one. They comprise six questions o law, two referred at the instance of the Commissioner of Income-tax and four referred at the instance of the assessee. The original Reference, which is Reference No. 70 of 1951, comprised five questions. The assessee wanted a sixth question to be referred and applied successfully to this Court under Section 66 (2) of the Act. In pursuance of the directions given on that application, the Tribunal has referred a further question by a supplementary statement of case. That Reference is Reference No. 38 of 1953.

( 2 ) THE References cover two assessment years namely, 1947-48 and 1948-49. The relative accounting years are different, according as the income concerned is the partnership income of the assessee or income from other sources. With respect to the partnership income, the accounting years are those ended on 30,4-1946 and 30-4-1947, but with those accounting years, we are not concerned. The accounting years relative to income from other sources are the years ended on 31-3-1947 and 31-3-1948.

( 3 ) OF the six questions, two concern only the assessment year 1947-48. Wit

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