Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 1960 (4) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1960 (4) TMI 9 - SC - Income TaxWhether any part of the managing agency commission accrued outside British India? Held that:- On the findings reached, the position in law is quite clear that normally the commission payable to the managing agents accrues at the place where the business is actually done, that is, where the services of the managing agents are performed. In this case the appellant practically performed all the services at Bombay, and therefore the commission which it earned though computed on the percentage of freight and/or passage money in respect of two of the managed companies, accrued or arose in British India. As to the third managed company whose business was stevedoring and trading and the remuneration was payable at 25% of the net profits, there can be no doubt that the remuneration accrued at Bombay. Therefore, the High Court of Bombay correctly answered the question against the appellant. Appeal dismissed.
|