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1962 (12) TMI 57 - SC - Income Tax
Whether the agreement was a trading agreement or something which was in the nature of an asset in the hands of the firm?
Whether the receipt can be described under section 4(3)(vii) as of a casual and non-recurring nature and not by way of addition to the remuneration of an employee?
Held that:- Appeal allowed. The High Court, with all due respect, was in error in holding that this amount was taxable.