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1960 (4) TMI 8 - SUPREME COURTWhether in the circumstances of the case, the officers of the excess profit tax department were right in treating the income of the assessee or the Industrial Trust Fund as income from business? Held that:- We have no doubt in our minds that what clearly emerges from the terms of the agreement of December 6, 1938, is a business of managing agency accepted and undertaken by the appellant. High Court correctly answered the question in the affirmative. The appeals fail and are dismissed.
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