The Calcutta Weekly Notes March 18 1946

The amount to their credit was debited in the books of the Bombay branch credited to them in the books of the Branch outside British India and these amounts were paid to the creditors outside British India. [...] The Commissioner was entitled to rely on the statement in the certificate of regitration about the place of residence and his fining that the place of residence was at Bombay was a finding of fact and cannot be interfered with; (ii) that a remittance or payment made outside I..ritish India to a creditor of a firm in Britislt :India in discharge of a debt due out of the.foreign moneys of th [...] Rules 1 to 6 of the Rules in the schedule to the Income Tax Act deal with the method of computation of the income of different using of insurance companies. [...] On an objection being taken by the auditors their names were removed from the Share Register by the Company: Held (CLARK J.)- (i) that the action of the Company was ialid ; the remedy of the Company was to apply for the rectification of the Register of members. under sec. [...] 38 of the CoMpanies Act; (ii) that as the directors were entitled to allot shares the new members were entitled t--) presume that the allotment was regularly made and the consent of the Company had in fact been obtained ; that as the Company and the Board of pirectors consisted of the same persons it was too technical to consider whether the Company had not sanctioned the allotment.