JUDGMENT

DERBYSHIRE, C.J. - This is a Reference to this Court made by the Income Tax Officer, Burdwan-Birbhum, arising out of the assessment made in the year 1932-33 upon Nrisingha Chandra Nandy Chowdhury as an individual on income from money-lending business carried on by him at Baidyapur in the Burdwan District, a rice mill at Boinchee in the Hooghly District, a business in stevedoring and dubashing in Calcutta, money-lending business carried on by him at Deoghar in the Sonthal Parganahs and his income from other sources. It is the stevedoring and dubashing business in Calcutta which gives rise to the question which is asked by the Commissioner. This stevedoring and dubashing business was carried on under the name of Chatterji & Co., and the question asked of this court is- what is the income properly assessable to income tax of the assessee in respect of the business of Chatterji & Co. ?

The assessee for some years previous to 1931 was the proprietor of this stevedoring and dubashing business of Chatterji and Co., and appears to have appointed Sarat Chandra Chatterji, Tulshi Charan Chatterji and Radha Charan Chatterji who are described as merchants and land-holders, as managers of