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TMI Blog1967 (3) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... e under section 66(2) of the Indian Income-tax Act and submitted the following question to the High Court of Judicature at Calcutta : " Whether, under the facts and circumstances, and on the materials available, the Appellate Tribunal was justified in holding that the gain of Rs. 49,400 made by the sale of 200 shares of Radha Films Limited was a venture in the nature of trade and whether the sai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... again placed for hearing before a Division Bench of the High Court. The learned judges by their judgment dated June 21, 1963, answered the question that the gain was of a capital nature and was not income from business taxable under the Indian Income-tax Act. The High Court having declined to grant a certificate under section 66A of the Indian Income-tax Act, 1922, with special leave the Commissi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d but which has not been included in the statement of the case made initially under section 66(1) or section 66(2). It has no jurisdiction to direct the Appellate Tribunal to collect additional material and make it a part of the supplementary statement. " It was certainly open to the High Court to call for a supplementary statement of case under section 66(4) on the matters enumerated in their o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cember 15, 1959, on the materials on record uninfluenced by any additional evidence collected since its original order and the High Court do, after the supplementary statement is received, proceed to hear and dispose of the reference. The supplementary statement of case dated the 25th October, 1960, will be excluded from consideration by the High Court. The appeal is allowed. No order as to cost ..... X X X X Extracts X X X X X X X X Extracts X X X X
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