MANU/SC/0080/1968

IN THE SUPREME COURT OF INDIA

Decided On: 22.08.1968

Appellants: Commissioner of Income-tax, Kerala
Vs.
Respondent: Pangal Vittal Nayak and Co. P. Ltd.

JUDGMENT

Ramaswami, J.

1. These appeals are brought by special lease by the Commissioner of Income-tax Kerala, from the judgment of the Kerala High Court dated September 2, 1964, in I. T. R. No. 69 of 1963.

2. The assessee is a member of an association for speculation in coconut oil. The assessee also speculates on its own. It also receives orders from its constituents who are not members of the association to speculate on their behalf. The procedure is

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