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1965 (11) TMI 30 - SC - Income TaxWhether, on the facts and in the circumstances of the case, the commission of ₹ 2,45,557 was exempt in the hands of the assessee by virtue of the Notification No. 878F dated March 21, 1922, as amended by Notification No. 8 dated March 24, 1928 ? Held that:- Whether the commission was paid out of the profits or determined with reference to the profits has to be decided on the facts of each case. In the present case, the Tribunal rightly found that the commission was paid out of the profits of the business. We, therefore, agree with the conclusion of the High Court, though on different grounds. Appeal dismissed.
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