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1966 (2) TMI 6 - HC - Income Tax
Whether on proper interpretation of the agreement dated July 31, 1956, between the British India Corporation and the appellant-company, the letters of K and the letters of the managing director, the sum of ₹ 43,333 retained by the British India Corporation and adjusted by it to the credit of S & Co. was the assessable income of the applicant-company - Held, Yes