Mehar Singh, J.

1. The assessee-company, Dalmia Dadri Cement Ltd., is a manufacturer of cement. Mr. Prabhu Dayal Agrawal had found some kankar deposits, suitable for manufacture of cement, in the former Jind State, and he made available what he had enquired into and found in this respect to Mr. Shanti Prasad Jain. In consequence, and with the assistance of Mr. Prabhu Dayal Agrawal, an agreement was entered into on April 2, 1938, between the then Ruler of the former Jind State and Mr. Shanti Prasad Jain, for the sole and exclusive right of manufacturing cement in the former Jind State by the latter and to win and work the kankar and limestone deposits in that State in the terms and conditions of that agreement. The assessee-company having been formed, Mr. Shanti Prasad Jain transferred the rights under that agreement to it by another agreement of May 4, 1938, on the same terms and conditions as the original agreement. The assessee-company then entered into the business of manufacture of cement in the former Jind State. On May 27, 1938, the assessee-company entered into an agreement, annexure "B" to the statement of the case, with Mr. Prabhu Dayal Agrawal. In the preamble of