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1974 (11) TMI 5 - SC - Income Tax
Whether the sum representing the managing agency remuneration for the period April 1 1956, to June 30, 1957, was deductible in the computation of the income of the previous year ending on 30th June, 1958, relevant for the assessment year 1959-60 - assessee's liability to pay remuneration arises only when the Government conveyed its approval - appeal is accordingly allowed, the answer given by the High Court to the question referred is answered in the affirmative and in favour of the assessee